Exercise 14-9 (Part Level Submission)

On June 30, 2017, Monty Company issued $3,300,000face value of13%,20-year bonds at $3,548,257, a yield of12%. Monty uses the effective-interest method to amortize bond premium or discount. The bonds pay semiannual interest on June 30 and December 31.

journal entries?

(1)The issuance of the bonds on June 30, 2017

.(2)The payment of interest and the amortization of the premium on December 31, 2017.

(3)The payment of interest and the amortization of the premium on June 30, 2018.

(4)The payment of interest and the amortization of the premium on December 31, 2018.