On January 1, when the market interest rate was 9 percent, Seton Corporation completed a $ 200,000,

Question:

On January 1, when the market interest rate was 9 percent, Seton completed a $ 200,000, 8 percent bond issue for $ 187,163. The bonds pay interest each December 31 and mature in 10 years. Seton amortizes the bond discount using the straight-line method.
Required:
1. Prepare the journal entry to record the bond issuance.
2. Prepare the journal entry to record the first interest payment on December 31.
3. Prepare a bond discount amortization schedule for these bonds. Round calculations to the nearest dollar. Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...