k$.$ Bonds Payable $$ Series $2$

On January $1,$ Y$6,$ the company issued $$2,830,000,5\%$ bonds with a $10-$year maturity. The

bonds were issued to investors that require an effective interest rate of $7\mathrm{.}50\%.$ The accountant

did NOT record the issuance of these bonds. Interest is paid annually and the accountant did

NOT record the interest payment transaction. The effective interest method is used to amortize

any premium or discount.

NOTE $$ round calculations to nearest dollar.

In the Excel spreadsheet, see the tab labelled $$Bonds Payable $$ Series $2$ to make any

calculations, including an amortization schedule, to support journal entries.