To provide funding for its Accounting Lovers' Center for the development of financial statement understanding project, Harris Incorporated issued 8% bonds with a face amount of $1,725,000 on March 1, 2022. At the time of issuance, the market rate of interest was 11%. The bonds pay interest semiannually on February 28th and August 31st and mature in 6 years. The fiscal year ends September 30th for Harris Development. Required: 1. Calculate the selling price of the bonds and prepare an amortization schedule through 2/28/2028 (when the bonds mature). Note: You can use excel to prepare the amortization schedule. Record all the necessary journal entries related to the bonds for fiscal year 9/30/22:

To provide funding for its Accounting Lovers' Center for the development of financial statement understanding project, Harris Incorporated issued 8% bonds with a face amount of $1,725,000 on March 1, 2022. At the time of issuance, the market rate of interest was 11%. The bonds pay interest semiannually on February 28th and August 31 st and mature in 6 years. The fiscal year ends September 30 th for Harris Development. Required: 1. Calculate the selling price of the bonds and prepare an amortization schedule through 2/28/2028 (when the bonds mature). Note: You can use excel to prepare the amortization schedule. Record all the necessary journal entries related to the bonds for fiscal year 9/30/22