Blackboard Homework 14-3 ekx Sportswear Corporation issued $6,000,000 of 8% bonds on January 1, 2017, due on January 1, 2022. The interest is to be paid twice a year on July 1 and January 1. The bonds were sold for $5,536,676, to yield 10% effective annual interest. Sportswear Corporation closes its books annually on December 31. Sportswear uses the straight-line method of amortization. MY Instructions: In the space provided on the next few pages, prepare all necessary journal entries for the years 2017 and 2018. Blackboard Homework 14-4 4x Sportswear Corporation issued $6,000,000 of 8% bonds on October 1, 2017, due on October 1. 2022. The interest is to be paid twice a year on April 1 and October 1. The bonds were sold to yield 10% effective annual interest. Sportswear Corporation closes its books annually on December 31. Sportswear uses the effective-interest method. Mt hy we need Mt late Instructions: In the space provided on the next few pages, prepare all necessary journal entries for the years 2017 and 2018. Blackboard Homework 14-5 Sportswear Corporation issued $10,000,000 of 10% bonds on January 1, 2017, due on January 1:2027. The interest is to be paid twice a year on July 1 and January 1. The bonds were sold for $10,500,000. Sportswear Corporation closes its books annually on December 31 Sportswear uses the straight-line method of amortization. (a) Prepare all necessary journal entries for the year 2017. (b) Identify the carrying value of the bonds at year-end for 2017. Blackboard Homework 14-6 On January 1, 2017, Goll Corp. issued 3,000 of its 10%, $1,000 bonds for $3,120,000. These bonds were to mature on January 1, 2027. Interest was payable semiannually on July 1 and January 1. Goll uses the effective-interest method of amortization. The market rate of interest is 9%. (a) Prepare all necessary journal entries for the year 2017 and 2018. (b) Identify the carrying value of the bonds at year-end for 2017 and 2018