On January 1,2021 , a company issues $710,000 of 10% bonds, due in eight years,...
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On January 1,2021 , a company issues $710,000 of 10% bonds, due in eight years, with interest payable semiannually on June 30 and December 31 each year. Assuming the market interest rate on the issue date is 11%, the bonds will issue at $672,860. Required: 1. Fill in the blanks in the amortization schedule below: (Round your answers to the nearest dollar amount. Enter all amounts as positive values.) 2. Record the bond issue on January 1, 2021, and the first two semi-annual interest payments on June 30, 2021, and December 31 , 2021. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Round your answers to the nearest dollar amount.) Journal entry worksheet
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