The City of Fram issued 100 bonds at their face value of $6,000 each plus accrued interest

Question:

The City of Fram issued 100 bonds at their of $6,000 each plus accrued interest on June 1, 2017. The term of the bonds was January 1, 2017 to January 1, 2023, with interest payable semi-annually each January 1 and July 1 at 6%. Fram uses the effective interest method. Prepare the company's journal entries for
(a) The date of issuance,
(b) The July 1 interest payment, and
(c) The December 31 adjusting entry.
Face Value
Face value is a financial term used to describe the nominal or dollar value of a security, as stated by its issuer. For stocks, the face value is the original cost of the stock, as listed on the certificate. For bonds, it is the amount paid to the...