Problem 4 Determine Present Value A Determine the present value of $10,000, at 8%, 20 periods B Determine the present value of $1,000, received end of year annually, 10%, 8 years. C Determine the present value of $1,000, received at the beginning of the year annually, 10%, 8 years. Problem 5 Determine Sales Price Prepare journal entries for the sale of the following bond issues. Theoretical sale price. 9% bonds of $200,000 sold Jan. 1; 5-year life; interest payable on Jan. 1 and July 1; Market rate was 8% B 6% bonds of $200,000 sold Jan. 1; 10-year life; interest payable on Jan. 1 and July 1; Market rate was 8% Problem 6 Mortgage B. Corp. purchased a building for $60,000 by signing a mortgage for $50,000 and paying $10,000 cash. The mortgage is 8% with monthly payments of $340 for 30 years. A How many payments will be made? B What is the total of the monthly payments? Prepare the journal entry for the purchase on Jan. 1 D Prepare the journal entries for the first two monthly payments. - Feb 1 & March 1