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6) Superfan Nav Corporation (SFN) issued $900,000 of three-year bonds dated January 1, 2021. The stated rate on these bonds was 6%, payable each June
6) Superfan Nav Corporation (SFN) issued $900,000 of three-year bonds dated January 1, 2021. The stated rate on these bonds was 6%, payable each June 30 and December 31. The bonds were issued on January 1, 2021, when the market rate of interest was 4%. Assume effective-interest amortization. Required (34 marks): a) What amount will the bonds be issued for? (show your calculations) Prepare the journal entry to record the issuance of the bonds assuming that a discount or premium account is used. b) Complete the following table: Bond Payment Schedule Date Interest Payment Interest Expense Amortization Carrying Amount Jan.1/21 June 30/21 Dec. 31/21 June 30/22 Dec.31/22 June 30/23 Dec.31/23 Total
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