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help me 7. On January 1,2020 , Donovan Company issued...

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Accounting

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7. On January 1,2020 , Donovan Company issued $300,000 in bonds that mature in five years. The bonds have a stated interest rate of 8% and pay interest on December 31 each year. When the bonds were sold, the market rate of interest was 8%. 8. On January 1,2020 , TCU Utilities issued $1,000,000 in bonds that mature in five years. The bonds have a stated interest rate of 10% and pay interest on December 31 each year. When the bonds were sold, the market rate of interest was 12%. TCU uses the effective-interest amortization method. (a) Calculate the issue price of the bond. (b) Complete the bond amortization schedule using the effective interest method

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