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On July 1, 2022, Premium Pizza issued $10,000,000, 12%, 20 year bonds, with interest payable semi annually. Market interest rate on the date of
On July 1, 2022, Premium Pizza issued $10,000,000, 12%, 20 year bonds, with interest payable semi annually. Market interest rate on the date of issue was 10%. Issue price was $11,715,909. Prepare the amortization schedule and journalize the bonds issuance as well as the first two interest payments. Do not round off intermediate calculations. "Round off your final inputs to the nearest dollar. a. Amortization Schedule Payment Interest Interest Payment Change Expense Discount Premiun Carrying Value 0 1 2 3 b. Journalize bond issuance and the first two interest payments. 1. Bond issuance ii. First interest payment ii. Second interest payment
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