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Carr Corporation issued $67,000 of 6 percent, 10 -year bonds on January 1 , Year 1 , for a price that reflected a 7 percent market rate of nterest. Interest is payable annually on December 31. Note: Use appropriate factor(s) from the tables provided, or round your calculated discount factors to 6 decimal places. Round Jour final answers to the nearest whole dollar. click here to view Tables FV1, PV1, FVA1, or PVA1 in the appendix. Required a. What was the selling price of the bonds? Note: Round your intermediate calculations and final answer to the nearest dollar amount. Prepare the journal entry to record issuing the bonds. Note: Round your intermediate calculations and final answers to the nearest dollar amount. If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Journal entry worksheet Note: Enter debits before credits. Prepare the journal entry for the first interest payment on December 31 , Year 1 , using the effective interest rate method. Note: Round your intermediate calculations and final answers to 2 decimal places. If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Journal entry worksheet Record the interest expense for the first payment. Note: Enter debits before credits

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