On January $1,2024,$ a company issues a $$3,500,000,10\%,5-$year bonds that pays semiannual interest on July $1$ and January $1.$Assume the bonds were sold at:

A$.92\%$

B$.102\%$

Instructions:

For A and $B$ journalize the issuance of the bonds.

Journalize the first and second interest payment, using straight line amortization.

Compute the bond's price $($present value$)$ assuming the following market interest:

A$.12\mathrm{.}5\%$

B$.8\mathrm{.}5\%$