Question: Problems Connect On January 1 , 2018, Instaform, Inc., issued 10% bonds with a face amount of S50 million, dated January 1, The 14-1 eemning

Problems Connect On January 1 , 2018, Instaform, Inc., issued 10% bonds with a face amount of S50 million, dated January 1, The 14-1 eemning the bonds mature in 2037 (20 years). The market yield for bonds of similar risk and maturity is 12%. Interest is paid rice of bonds; semiannually scount and ssuer Required: 1. Determine the price of the bonds at January 1, 2018, and prepare the journal entry to record their issuance by 2, Assume the market rate was 9%. Determine the price of the bonds at January 1, 2018, and prepare the Journal 3. Assume Broadcourt Electronies purchased the entire issue in a private placement of the bonds. Using the data nd investor L014-2 Instaform. entry to record their issuance by Instaform. in requirement 2, prepare the journal entry to record the purchase by Broadcourt

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