Question: Bond Amortization: Please Include Journal Entries On 1/1/2015 Big Sky Resort issued $10,000,000, 4%, 3-year bonds, due 12/31/2017. Interest is paid semi-annually on June 30th

Bond Amortization: Please Include Journal Entries

Bond Amortization: Please Include Journal Entries On 1/1/2015 Big Sky Resort issued

On 1/1/2015 Big Sky Resort issued $10,000,000, 4%, 3-year bonds, due 12/31/2017. Interest is paid semi-annually on June 30th & December 31st. At the time of issue, the market rate for similar bond issues was 2%. Calculate the issue price (present value) of the bond proceeds, (round to nearest dollar). (Show and label your work). Complete the bond amortization table below. (round to the nearest dollar) Prepare the accounting journal entries for the bond issue on the Journal Entry Sheet

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