Question: I need help with the boxes with the 3 x's The Gorman Group issued $930,000 of 11% bonds on June 30, 2018, for $1,009,794. The

I need help with the boxes with the 3 x's

I need help with the boxes with the 3 x's The Gorman

The Gorman Group issued $930,000 of 11% bonds on June 30, 2018, for $1,009,794. The bonds were dated on June 30 and mature on June 30, 2038 (20 years). The market yield for bonds of similar risk and maturity is 10%. Interest is paid semiannually on December 31 and June 30 Required: Complete the below table to record the company's journal entry 1. to 3. Prepare the journal entry to record their issuance by The Gorman Group on June 30, 2018, interest on December 31, 2018 and interest on June 30, 2019 (at the effective rate) December 31, 2018 Amount Total Interest expense Cash $ 1,009,794x $ 930,000x Interest Rate 5.0% 0.0% 50,490 S Amortization of premium on bonds (50,490) June 30, 2019 Amount Interest Rate 50% 0.0% Total Interest expense Cash $ 930,000x x $ 0 Amortization of premium on bonds

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