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Nordic Company issued bonds with the following provisions: - Maturity value: $60,000,000. - Interest: 7.9...

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Accounting

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Nordic Company issued bonds with the following provisions: - Maturity value: $60,000,000. - Interest: 7.9 percent per year payable semi-annually each June 30 and December 31 - Terms: Bonds dated January 1, year 1, due five years from that date - The company's fiscal year ends on December 31, the bonds were sold on January 1, year 1, at a yield of 8 percent Use Table 8C1, Table 8C2. 3. Prepare the journal entries at the following dates: June 30 , year 1; December 31 , year 1 ; and June 30 , year 2 . Use the effectiventerest method to amortize bond discount or premium. (If no entry is required for a transaction/event, select "No journal entry equired" in the first account field. Round the final answers to the nearest whole dollar.) Journal entry worksheet Record semi annual interest payable plus amortization of discount for 6 months. Note: Enter debits before credits. Note: Enter debits before credits. Record semi annual interest payable plus amortization of discount for 6 months. Note: Enter debits before credits

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