Question: How do you solve this problem? It doesn't make sense to me. Scary Spice issues $450,000 of 13% four years bonds dated January 1, 2013

How do you solve this problem? It doesn't make sense to me.

Scary Spice issues $450,000 of 13% four years bonds dated January 1, 2013 that pays interest semiannually. The interest rate is paid on June 30 and December 31. They are issued at $493,608 and their market rate is 10% on the open market. 1. Prepare the journal entry for January 1, 2013 2. Prepare the four journal entries to record the effective interest rate for year 2013 and 2014 also the payment interest

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