Walter Company issues $750,000 of 12% bonds that pay interest semiannually and mature in 10 years. Compute the bonds issue price assuming that the bonds market interest rate is: a. 14% per year compounded semiannually (6 points) b. Calculate the amount of premium/discount (2 points) c. Record the issuance of bonds (3 points)

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Dr. Cr.

d. Prepare the amortization schedule showing the necessary information for the first two interest period (8 points).

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Period	interest expense	interest payment	Amortization	net bonds payable
at bond issuance
at first interest payment
at second interest payment