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Champs Lid. is authorized to issue $7,750,000 of 7 percent, 10-year bonds On January 2, 2020, the contract date, when the market interest wie is

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Champs Lid. is authorized to issue $7,750,000 of 7 percent, 10-year bonds On January 2, 2020, the contract date, when the market interest wie is a pront, the company as 10.200.000 bonds and receives cash of $5,778.700. Interest is paid on June 30 and December 31 each year Required 1. Prepare an amortization table for the first four semiannual forest parade Champed, amortizes bond discounts by the effectiverest method 2. Record the issue of bonds on January 2, the first semi-annual interest payment on June 30, and the second payment on December 31 3. Show the balance sheet presentation of the band on the date of isson and on December 31, 2021 Interest Payment (3.5% of B Interest Expense (4.0% of Preceding Bond Carrying Amount 0 Unamored Discount Account Balance (DC) Discount Amortization ( BA) Semi-annual Interest Period Bond Carrying Amount (56.200.000 Maturity Values) Jan. 2. 2020 Champs Lid. is authorized to issue $7,750,000 of 7 percent, 10-year bonds On January 2, 2020, the contract date, when the market interest wie is a pront, the company as 10.200.000 bonds and receives cash of $5,778.700. Interest is paid on June 30 and December 31 each year Required 1. Prepare an amortization table for the first four semiannual forest parade Champed, amortizes bond discounts by the effectiverest method 2. Record the issue of bonds on January 2, the first semi-annual interest payment on June 30, and the second payment on December 31 3. Show the balance sheet presentation of the band on the date of isson and on December 31, 2021 Interest Payment (3.5% of B Interest Expense (4.0% of Preceding Bond Carrying Amount 0 Unamored Discount Account Balance (DC) Discount Amortization ( BA) Semi-annual Interest Period Bond Carrying Amount (56.200.000 Maturity Values) Jan. 2. 2020

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