PROBLEM SET B Round doliar amounts to the nearest whole dollar. Problem 10-1BA Computing bond price and recording issuance C2 P1 Flagstaff Systems issues bonds dated January 1 that pay interest semiannually on June 30 and December 31. The bonds have a $90,000 par value and an annual contract rate of 12%, and they mature in five years. Required For each of the following three separate situations, (a) determine the bonds' issue price on January 1 and (b) prepare the journal entry to record their issuance. 1. The market rate at the date of issuance is 10 %. Page 457 Check (1) Premium, S6,948 2. The market rate at the date of issuance is 12%. 3. The market rate at the date of issuance is 14%. PROBLEM SET B Round doliar amounts to the nearest whole dollar. Problem 10-1BA Computing bond price and recording issuance C2 P1 Flagstaff Systems issues bonds dated January 1 that pay interest semiannually on June 30 and December 31. The bonds have a $90,000 par value and an annual contract rate of 12%, and they mature in five years. Required For each of the following three separate situations, (a) determine the bonds' issue price on January 1 and (b) prepare the journal entry to record their issuance. 1. The market rate at the date of issuance is 10 %. Page 457 Check (1) Premium, S6,948 2. The market rate at the date of issuance is 12%. 3. The market rate at the date of issuance is 14%