On January 1, 2016, Darnell Window and Pane issued $19.0 million of 10-year, zero-coupon bonds for $6,117,491. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.)

Required:

1.	Prepare the journal entry to record the bond issue. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in whole dollar.)

Journal entry worksheet

1. Record the issuance of the bonds.

2.

Determine the effective rate of interest.

3. to 5.

Prepare the necessary journal entries. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in whole dollar.)

1

Record annual interest expense at December 31, 2016.

2

Record annual interest expense at December 31, 2017.

3

Record the payment at the bonds' maturity.

(If you could please explain the steps on how to find the answer, I would be greatful.)

Nicholas Vasko ACC 3021 ACC 3021- Sec TR2 Accounting Il: 17 Fall Ch 14-graded HW nstructions I halp Cuestion 2 (of 5 Sav & Ext Submt 2-1000 ports On J nuary 1, 2016. Dornel Window and Pane issued $19.0 milion of 10-year zero coupon bond for cto rom the tab provided Hequired: 1. Hrepane tha journal antry to recond tha bend aaue (no entry is required tor a transactionievent select ..Na journal Rnry required. in the tirst ancount 1iald. Enter your anawarsin whole dollar. Mewtransaction list ournal entry worksheet Record the Esuance of tha bonds. Note: Enter debits before credits. Debit Credit 6.117,401 12 882,509 January 01 2015 Disount on bands payable Band payadle Record centry Clear entry View peneral jounal