Bonds Payable:

Bonds Payable 7. On January 1, 2018, Dix Corporation issued $800,000, 8%, 15-year bonds, with semi- annual interest payments. Dixon will pay interest were issued to yield on December 31 of each year. July 1 and January 1. The bonds an effective rate of 6 % . Dixon prepares annual financial statements on Instructions: (a) Compute the proceeds of the bond issue. (b) Prepare the first four lines of a bond amortization table. (c) Prepare all necessary journal entries related to the bond issue for Dixon from date of issue through the second interest payment