Question: Allen Media Group issues $ 2 , 0 0 0 , 0 0 0 of 8 % , 1 0 year bonds dated January 1

Allen Media Group issues $2,000,000 of 8%,10 year bonds dated January 1,2022, that pay
semiannual interest on June 30 and December 31. The bonds were issued at a price of $1,795,000.
Prepare the journal entry to record the bonds' issuance.
For each semi-annual period, compute a. the cash payment, b. the straight line discount, and
c. the bond interest expense.
Determine the bond interest expense over the life of the bond.
Allen Media Group issues $2,000,000 of 8%,10 year bonds dated January

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