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I just need help with required 3 E10-20 (Algo) Recording and Reporting a Bond Issued at a Discount (Straight-Line Amortization with Discount Account) LO10-4 On

I just need help with required 3

image text in transcribed E10-20 (Algo) Recording and Reporting a Bond Issued at a Discount (Straight-Line Amortization with Discount Account) LO10-4 On January 1 of this year, Clearwater Coeporation sold bonds with a face value of $754,000 and a coupon rate of 7 percent. The bonds mature in 10 years and pay interest annually every December 31 . Clearwater uses the straight-line amortization method and also uses a discount account. Assume an annual market rate of interest of 8 percent. (EV of \$1, PV of \$1, FVA of \$1, and PVA of \$1) Note: Use appropriate factor(s) from the tabies provided. Required: 1.22. Prepare the joumal entry to recoed the issuance of the bonds and the interest payment on December 31 of this year. 3. What bonds payable amount will Clearwater report on its December 31 balance sheet? Complete this question by entering your answers in the tabs below. What bonds payable amourt will Clearwater report on its December 31 balance sheet? Note: Found your intermediate calculations and final answers to whole dollars

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