On January 1, 2016, Mania Enterprises issued 12% bonds dated January 1, 2016, with a face amount of $20.8 million. The bonds mature in 2025 (10 years). For bonds of similar risk and maturity, the market yield is 10%. Interest is paid semiannually on June 30 and December 31. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided. Enter your answers in whole dollars.)

Required:

1.	Determine the price of the bonds at January 1, 2016.

2.	Prepare the journal entry to record the bond issuance by Mania on January 1, 2016. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

3.	Prepare the journal entry to record interest on June 30, 2016, using the effective interest method. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

4.	Prepare the journal entry to record interest on December 31, 2016, using the effective interest method. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)