Show all your work including calculations and tables. Also, assume the companys year-end is December 31.

1.Assume that $350,000 of 10% bonds were issued on the contract date, March 1, 20x1 when the effective market rate was 8%. The bonds pay interest each September 1 and March 1 and are scheduled to mature on March 1, 20x6.

Required:

Give journal entries through December 31, 20x2. Round your answers off to the nearest dollar!