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PLEASE PLEASE ASAP oblem #2:20 points Tano issues $1,000,000 of 6%, 2-year sonds dated December 31, 2020 that pay interest semiannually and December 31. The
PLEASE PLEASE ASAP oblem #2:20 points Tano issues $1,000,000 of 6%, 2-year sonds dated December 31, 2020 that pay interest semiannually and December 31. The bonds are issued at a price of $1.036, 304. You do not need to provide Problem On Jan journal entries. Intere Dec a. Calculate the premium on the band issuance. b. Prepare the entry to record bond issuance on December 31, 2020 How much of the premium should be amortized each interest period? 4 calculate the interest paid to the tondholders every 6 months: Prepare the entry to record the interest payments on each June 30 and December 31: Complete the following bond amortization schedule: Unamortized Premium Bond Carrying Value Semi-annual Period end 0 12/31/20 1 6/30/21 2 12/31/21 3 6/30/22 4 12/31/22 are the entry to record maturity and payment of bonds on December 31, 2022
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