Creative Web Page issued \(\$ 600,000\) face value of \(15 \%, 20\)-year bonds on October 1, 1999 . The bonds are dated October 1, 1999, call for semiannual interest payments on April 1 and October 1, and are issued to yield \(16 \%\) (8\% per period).

\section*{Required}

a. Compute the amount received for the bonds.

b. Prepare an amortization schedule similar to that in Illustration 15.4. Enter data in the schedule for only the first two interest periods. Use the interest method.

c. Prepare journal entries to record issuance of the bonds, the first six months' interest expense on the bonds, and the adjustment needed on May 31, 2000, assuming Creative

\section*{Exercise 15-13}

Determine future value of an annuity (based on appendix) (L.O. 10)

\section*{Problem 15-1}

Record issuance of bonds, payment of bonds, payment of interest, and partial period accrual (L.O.3)


\section*{Required}

\section*{Problem 15-2}

Compute two prices on bond issue and first period's interest (L.O. 5, 6)

\section*{Problem 15-3}

Record bond interest expense and accrual for partial period (L.O. 6)

\section*{Problem 15-4}

Compute price of bonds prepare amortization schedule, journalize bond issuance, and accrue interest (L.O.5.6) Web Page's fiscal year ends on that date.