3. [12%] On the first day of the current fiscal year, $2,500,000 of 10-year, 11% bonds, with interest payable semiannually, were sold for $2,400,000. Present entries to record the following transactions for the current fiscal year: (a) (b) Issuance of the bonds. First semiannual interest payment and amortization, straight-line method.

3. [12%] On the first day of the current fiscal year, $2,500,000 of 10 -year, 11% bonds, with interest payable semiannually, were sold for $2,400,000. Present entries to record the following transactions for the current fiscal year: (a) Issuance of the bonds. (b) First semiannual interest payment and amortization, straight-line method