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On January 18, 2018, Apple Company sold 12% bonds having a maturity value of 500,000 for 337,908, which provides the bondholders with a 10% yield.

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On January 18, 2018, Apple Company sold 12% bonds having a maturity value of 500,000 for 337,908, which provides the bondholders with a 10% yield. The bonds dated January 1st, 2018 and mature January 15, 2023, with interest payable December 31 of each year. Instructions: a) Prepare the journal entry at the date of the bond issuance b) Prepare a schedule of interest expense and bond amortization for 2018 2023

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