$2.$ Analysis and Problem$-$Solving Skills

a$.$ A company issues $$15,000,000,7\mathrm{.}8\%,20-$year bonds to yield $8\%$ on January $1,2023.$ Interest

is paid on June $30$ and December $31.$ The proceeds from the bonds are $$14,703,108.$

$1.$ Prepare the Schedule of Bond Discount Amortization $($straight$-$line, three years only$)$

$2.$ Prepare the Schedule of Bond Discount Amortization $($effective interest method, three years

only$)$

$3.$ Present the journal entries for the first year $($effective interest only$)$

$4.$ How much will interest expense be recognized in $2023?($both methods$)$