A company issued 10%,10-year bonds with a par value of $1,000,000 on January 1,at a selling price of $885,295 when the annual market interest rate was 12%.The company uses the effective interest amortization method.Interest is paid semiannually each June 30 and December 31.
(1)Prepare an amortization table for the first two payment periods using the format shown below:
(2)Prepare the journal entry to record the first semiannual interest payment.
Definitions:
Psychophysiological Disorder
A condition in which psychological stress adversely affects physiological functioning, leading to physical symptoms.
Hispanic American
People in the United States who have ancestry from Latin American countries and the Iberian Peninsula.
Experience
The knowledge or skill acquired by observing, participating in, or being exposed to events or activities over time.
Blood Vessels
The network of tubular structures (arteries, veins, and capillaries) through which blood circulates in the body.
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