consider your answers from requirements 1 3 of exercise journalize issuance of the bond and the first semiannual interest payment under

/in /by

Requirement
1. Determine the present value of seven-year bonds payable with face value of $ 91,000 and stated interest rate of 14%, paid semiannually. The market rate of interest is 14% at issuance.
2. Same bonds payable as in Requirement 1, but the market interest rate is 16%.
3. Same bonds payable as in Requirement 1, but the market interest rate is 12%.