GoalGoal

Ltd. is authorized to issue

$ 1 comma 500 comma 000$1,500,000

of

11%,

1010-year

bonds payable. On December 31,

20182018,

when the market interest rate is

88%,

the company issues

$ 1 comma 200 comma 000$1,200,000

of the bonds.

GoalGoal

amortizes bond discount using the effective-interest method. The semiannual interest dates are June 30 and December 31.Read the requirements

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.

Requirement 1. Use the PV function in

Excel Superscript Excel

to calculate the issue price of the bonds. (Round your answer to the nearest whole dollar.)

The issue price of the bonds is $

.

Requirement 2. Prepare a bond amortization table for the first year of the bonds. (Round your answers to the nearest whole dollar.)

Goal Ltd.
Amortization Table
Semiannual	Interest	Interest	Discount	Discount Account	Bond Carrying
Interest Date	Payment	Expense	Amortization	Balance	Amount

Dec 31, 2018

Jun 30, 2019

Dec 31, 201