A-1 Req. 3 Jan 1/1/18 June 3010 Dec 31/21 Final payment on July 1, 2022 Calculate the price of the bond: 150,000 (0.5584) = 83,760 150,000 (012) (112) 7.3601 = 72,281. = 161,041 Fill in the amortization table: Date Int. Paid 10,500 10,500 Interest expense for: 2021 = 2022 Chapter 9 Practice Problem Bush Company authorized $150,000 of 5-year bonds dated January 1, 2018. The stated rate of interest was 14%, payable each June 30 and December 31. The bonds were issued on January 1, 2018, when the market interest rate was 12%. Assume effective interest amortization. Int. Exp. 9662 9612 = $58,000+ ($58,000 Journal entry on 1/1/18 for issuance: Journal entry for interest on 6/30/18: $58,000 .04 6/12 $58,000 .04 6/12 Amortization 838 888 = $1,160 $1,160 Book Value 161,041 1600,203 159,315 =