=+PR 14-5A Bond discount, entries for bonds payable transactions, interest method of amortizing bond discount

✔ 3. $1,965,414 Maui Blends, Inc. produces and sells organically grown coffee. On July 1, 2010, Maui Blends, Inc. issued $3,000,000 of 15-year, 12% bonds at an effective interest rate of 10%, receiving cash of $3,461,181. Interest on the bonds is payable semiannually on December