Issuance of a Bond at Face Value On January 1, 2017, Whitefeather Industries issued 900, $1,000 face value bonds. The bonds have a(n) 10-year life and pay interest at the rate of 10%. Interest is paid...

1.Calculate the issue price of the bonds and record the issuance of the bonds on January 1, 2017. Round your final answer to the nearest dollar.

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Identify and analyze the effect of the issuance of the bonds on January 1, 2017.

How does this entry affect the accounting equation?
If a financial statement item is not affected, select "No Entry" and leave the amount box blank. If the effect on a financial statement item is negative, i.e, a decrease, be sure to enter the answer with a minus sign.

2.How would the issue price have been affected if the market rate of interest had been higher than 10%.

3.Identify and analyze the effect of the payment of interest on July 1, 2017.

How does this entry affect the accounting equation?
If a financial statement item is not affected, select "No Entry" and leave the amount box blank. If the effect on a financial statement item is negative, i.e, a decrease, be sure to enter the answer with a minus sign.

4.Calculate the amount of interest accrued on December 31, 2017. If required, round your answer to the nearest dollar.
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