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Problem Three: On January 1, 2022, The Justice League issued $100,000,9%, four-year bonds. Interest is paid semiannually on June 30 and December 31 . The
Problem Three: On January 1, 2022, The Justice League issued $100,000,9%, four-year bonds. Interest is paid semiannually on June 30 and December 31 . The bonds were issued at $96,768 to yield an annual return of 10%. Required: 1) Show how Justice League calculated the $96,768 bond price (round each to the whole dollar). 2) Prepare an amortization schedule for the dates indicated using the effective interest rate method. 3) Prenare the iournal entries to record the issuance of the bond on Januarv 1 and interest exnense on June 30 . 2022 . 3) What amount would the bonds be reported on the balance sheet at the end 2022
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