Question: please explain how and the formula ACCOUNTING 102 HOMEWORK Chapter 11 On January 2, 2018, H Corporation issued ten-year 8% bonds with a face value

please explain how and the formula ACCOUNTING 102 HOMEWORK Chapter 11

please explain how and the formula

ACCOUNTING 102 HOMEWORK Chapter 11 On January 2, 2018, H Corporation issued ten-year 8% bonds with a face value of $1,000,000. The semiannual interest dates are June 30 and December 31. The bonds were issued for $875,480 to yield a market interest rate of 10%. The accounting year ends on December 31st. Prepare entries in journal form without explanations to record the bond issue on January 2, 2018 and the payments of interest and amortization of discount on June 30, 2018. Use the straight line method of amortization. Round answers to the nearest dollar. GENERAL JOURNAL Credit Description Debit Date

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