Question: Please answer clearly all three steps if this questions which I shared the pic of each step. Recording Bond Entries and Preparing an Amortization Schedule-


Recording Bond Entries and Preparing an Amortization Schedule- Effective Interest Method, Premium Mitchell Inc. issued 300 of its 6%,$1,000 bonds on January 1 of Year 1 . The bonds pay cash interest semiannually each june 30 and December 31 and were issued to yield 5%. The bonds mature in five years on December 31 , and the company uses the effective interest method to amortize bond discounts or premiums. Required a. Determine the selling price of the bonds. b. Prepare an amortization schedule for the first two years of the bond term. c. Prepare journal entries on the following dates. 1. January 1 of Year 1 , bond issuance. 2. June 30 of Year 1, interest payment. 3. December 31 of Year 1 , interest payment. Note: Round amount to the nearest whole doliar. Recording Bond Entries and Preparing an Amortization Schedule- Effective Interest Method, Premium Mitchell Inc, issued 300 of its 6%,$1,000 bonds on january 1 of Year 1 . The bonds pay cash interest semiannually each June 30 and December 31 and were issued to yield 5%. The bonds mature in five years on December 31 , and the company uses the effective interest method to amortize bond discounts or premiums. Required a. Determine the selling price of the bonds. b. Prepare an amortization schedule for the first two years of the bond term. c. Prepare journal entries on the following dates. 1. January 1 of Year 1 , bond issuance. 2. June 30 of Year 1 , interest payment. 3. December 31 of Year 1 , interest payment. Note: Round amounts in schedule to the nearest whole dollar. Note: Do not use negative signs. Provide joumal entries bo be made by jet ar inc at each of the followisg dater - Note: Round your ansoers to the nearest mhole dollar. a. jasuary 1 , Year 3-Wote nsuance. b. December 31, Year 1 -Interest payment. c. Decertiber 31, vear 2-Interest paymert. d. December 31, Year 3-Interest payment. e. December 31, Year 3 -Nole payment wt maturoy
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