Blue Spruce Corp. issued $ 465,000, 8%, 25-year bonds on January 1, 2017, for $ 380,584. This price resulted in an effective-interest rate of 10% on the bonds. Interest is payable annually on January 1. Blue Spruce uses the effective-interest method to amortize bond premium or discount.

Please answer 2 and 3

Blue Spruce Corp. is ed s 465 a es 25-year bor s on J uary 1 2017, for380 584. This p ice 380,584. This price resuited in an effecti ulted in an effective interest rate of 10% on the bonds. Interest is payable annuair on an ary 1 Blue Spruce uses the effective terest method to amortize bond premium o discount. Prepare the schedule using effective-interest methad to amortize bond premium or discount of Blue Spruce Corp- (Round answers to O decimal places, e.s.5,20.) Interest Periods Interest to Be Paid Interest Expense to Be Recorded Dond Carrying Value Amortization Discount Issue date S List of Accounts Prepare the journal entry to record the issuance of the bonds. (Round answers to O decimal places, e.s. 5,275. Credit account titles are automatically indented when amount is entered. Do not Indent manually) Date Account Titles and Explanation Credit Jan 1,2017 List of Accounts Prepare the ournal entry o recordthe accrual o terest and the discount amortization on December 31. 2017 Round nswers to 0 decimo places, e a 5,275 Credit account titles are automatically ndented when amount is entered. Do not indent manually. Date Account Titles and Explanation Debit Credit Dec. 31, 2017 List of Accounts