Question: On January 1 , 2 0 2 4 , NFB Visual Aids issued $ 8 0 0 , 0 0 0 of its 2

On January 1,2024, NFB Visual Aids issued \$800,000 of its 20-year, 6\% bonds.
- The bonds were priced to yield \(8\%\).
- Interest is payable semiannually on June 30 and December 31.
- NFB Visual Aids records interest expense at the effective rate and elected the option to report these bonds at their fair value.
- On December 31,2024, the fair value of the bonds was \$650,000 as determined by their market value in the over-the-counter market.
- General (risk-free) interest rates did not change during 2024.
Required:
1-a. Determine the price of the bonds at January 1,2024.
1-b to 4. Prepare the necessary journal entries.
Note: Use Excel, or a financial calculator.
On January 1 , 2 0 2 4 , NFB Visual Aids issued \

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