First Place Lid is authonzed to issue 3,000,000 of 5%, 10 year bonde payable On December 31, 2018, when the market interest rate is 8% the company issues $2.400.000 of the bonds. First Place amortes bond discount using the effective interest method. The semiannual interest dates are June 30 and December 31 Read the regulaments Requirement 1. Use the PV function in Excel" to calculate the issue price of the bonds (Round your answer to the nearest whole dollar) The issue price or the bonds is S Requirement 2. Prepare a bond amortization table for the first year of the bonds. {Round your answers to the nearest whole dollar) First Place Lid. Amortization Table Interest Discount Expense Amortization semiannual Interest Date Interest Payment Discount Account Banca Bond Carrying Amount Dec 31, 2018 Jun 30, 2019 DEC 31, 2019 Requirement 3. Record the issuance of the bonds payable on December 31 2018, the first semiannual interest payment on June 30, 2019, and the second payment on December 31, 2019. (Record debits first then credits. Exclude explanations from ary journal entres First Place Ltd is authorized to issue $3,000,000 of 5%, 10-year bonds payable On December 31, 2018, when the market interest rate is 8%, the company issues $2,400,000 of the bonds. First Place amortizes bond discount using the effective-interest method The sun annual interest dates are June 30 and December 31 Read the requirements Requirement 3. Record the issuance of the bonds payable on December 31, 2018, the first semiannual interest payment on June 30, 2019, and the second payment on December 31, 2019. (Record debits first, then credits Eidude explanations from any oumal entries.) Start by recording the issuance of the bonds on December 31, 2018 Journal Entry Date Accounts Debit Credit Dec 31 Record the first semiannual interest payment on June 30, 2019 Journal Entry Accounts Date Debit Credit June 30 Record the second semiannual interest payment on December 31, 2019 Record the second semiannual interest payment on December 31, 2019 Journal Entry Accounts Debit Credit Date Dec hoose from any list or enter any number in the input folds and then continue to the next Question Excel to calculate the issue price of the bonds. (Round your answer to the nearest whole dollar.) tization table for the first unor of the bande Doudouneware to the Requirements - - 1. Use the PV function in Excel to calculate the issue price of the bonds. 2. Prepare a bond amortization table for the first year of the bonds. 3. Record the issuance of the bonds payable on December 31, 2018; the first semiannual interest payment on June 30, 2019, and the second payment on December 31, 2019. of the st, the Print 2019; and the second Done onds on DecemVTT, ZU TU Journal Entry counts Debit Credit
