Question: Question 5 [10 points] + Star Inc. has available for issue $600,000 bonds due in seven years. Interest at the rate of 9% is to

Question 5 [10 points] + Star Inc. has available for issue

Question 5 [10 points] + Star Inc. has available for issue $600,000 bonds due in seven years. Interest at the rate of 9% is to be paid quarterly. Please make sure your final answer(s) are accurate to the nearest whole number. a) Calculate the issue price if the market interest rate is 8%. Total issue price = $ b) Prepare the journal entry for the issuance of the bond on July 1. Enter an appropriate description, and enter the date in the format dd/mmm (ie. 15/Jan) General Journal Date Account/Explanation F Debit Credit Page GJS +

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