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1) On June 30th, 2019, Everett Corporation issued bonds with a total face value of $500,000 for cash of $461,391, because the market rate was
1) On June 30th, 2019, Everett Corporation issued bonds with a total face value of $500,000 for cash of $461,391, because the market rate was 10%. The face rate on the bonds was 8%. The bonds were dated June 30th, 2019 and they mature in 10 years. Interest is payable semi-annually on June 30th and December 31st. Everett's fiscal year-end is December 31st. a Prepare an amortization/interest calculations table containing relevant data through (and including) June 30th, 2021. Round calculations to the nearest dollar. b) Prepare all required journal entries relating to this bond issue for 2019. c) Show how the bonds would be reported on Everett's Balance Sheet at December 31st, 2019
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