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On March 1, 2014, Oaken Furniture Co, issued $5700,000 of 10 percent bonds to yield 8 percent. Interest is payable semiannually on February 28 and

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On March 1, 2014, Oaken Furniture Co, issued $5700,000 of 10 percent bonds to yield 8 percent. Interest is payable semiannually on February 28 and Augest 31. The bonds mature in ten year. Oaken Furniture Co. is a calendar-year corporation. Determine the issue price of the bonds. Show your computations. Prepare an amortization table through the first two interest periods using the effective-interest method. Prepare the journal entries to record bond-related transactions as of the following dates: March 1, 2014 Augest 31, 2014 December 31, 2014 Febuary 28, 2015

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