1, Year 1 . The bond was priced to yield

8%

. Interest is paid semiannually on June 30 and December 31.\ Required:\ a) Calculate the issue price for the bond.\ b) Prepare an amortization schedule that determines interest expense at the effective rate for each period.\ c) Prepare the journal entry to record the bonds at issuance on January 1, Year 1.\ d) Prepare the journal entry to record the first 2 interest payments.\ e) What is the amount that Kristi Corporation will report in its Balance Sheet at December 31, Year 1 related to the bonds?\ f) What is the amount that Kristi Corporation will report in its Income Statement at December 31, Year 1 related to the bonds?

1, Year 1. The bond was priced to yield 8%. Interest is paid semiannually on June 30 and December 31 . Required: a) Calculate the issue price for the bond. b) Prepare an amortization schedule that determines interest expense at the effective rate for each period. c) Prepare the journal entry to record the bonds at issuance on January 1, Year 1. d) Prepare the journal entry to record the first 2 interest payments. e) What is the amount that Kristi Corporation will report in its Balance Sheet at December 31, Year 1 related to the bonds? f) What is the amount that Kristi Corporation will report in its Income Statement at December 31, Year 1 related to the bonds