Mathieson Co. Issues a $13,500,000.55% bond on 1 October 20X4. At this time, market interest rates are in the range of 5%. The bond had a 10-year life from 1 October 20X4, and paid interest semi-annually on 31 March and 30 September (PVOLS1 PVA $1 and PVAD of S1) (Use appropriate factor(s) from the tables provided.) Required: 1.Calculate the proceeds that would be raised on bond issuance. (Round time value factor to 5 decimal places. Do not round intermediate calculations. Round your final answer to the nearest whole dollar amount.) Proceeds from bond issuance 2. Prepare an amortization table using the effective interest method of amortization Complete the first four payments only. (Round time value foctor to 5 decimal places. Do not round intermediate calculations. Round your final onswers to the nearest whole dollar amount.) Cash Interest Period Interest Dorp Closing Net Bond Pald Expense Amortization Op balance 1 2 3 3. Prepare journal entries for 20x4 and 20x5, using the effective interest method. ABC has a 31 December fiscal year-end. (Round time value factor to 5 decimal places. Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount.) View transaction ist Journal entry worksheet 1 2 5 > Record the issuance of bonds te debits before credits General Journal Dobit Date 1 October 20X4 Credit View transaction list Journal entry worksheet Record the accrual of interest expense. Note: Enter debits before credits General Journal Debit Credit Date 31 December 20X4 3. Prepare journal entries for 20x4 and 20x5, using the effective interest method. ABC has a 31 December fiscal year-end. (Round time value foctor to 5 decimal places. Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount.) View transaction list Journal entry worksheet 1 2 35 4 5 Record the payment of interest on bonds. 3. Prepare journal entries for 20x4 and 20x5 using the effective interest method, ABC has a 31 December fiscal year-end. (Round time value factor to 5 decimal places. Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount.) View transaction list Journal entry worksheet 1 2 3 5 Record the payment of interest on bonds. Note: Enter det before credits General Journal Debit Credit Date 30 September 20X5 3. Prepare Journal entries for 20x4 and 20x5, using the effective interest method, ABC has a 31 December fiscal year-end. (Round time value factor to 5 decimal places. Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount.) View transaction list Journal entry worksheet 1 2 3 4 5 Record the accrual of interest expense rictente debits before credo General Journal Debit Credit Date 31 December 20X5
