Question: please solve B and C. note that the selling price of bonds is 38134. Recerding Bond Entries and Preparing an Amortization Schedule-Debt issuance Costs Mitcheil

please solve B and C. note that the selling price of bonds is 38134.

Recerding Bond Entries and Preparing an Amortization Schedule-Debt issuance Costs Mitcheil inc. issued 40 of its 69,51,000 bonds on january t of Year t. The bonds pay cach interest serniannually each fuly 1 and December 31 and were insued to yeid 7%. Debe iswance costs were sapo. The bonds mature in three years on December 31; and the company uses the eflective interest method to amortite bond discounts and debt issuance costs. Hequired 3. Deterinine the selling price af the bonds, net of debt issuance corts. b. Prepare an amortication schedule for the fitst year of the bond term. c. Prepure joumat entries on the following dates. 1. January 1 of Year 1, bond issuance. 2. July 1 of Year 1, interest payment. 3. December 31 of Year 1 , interec poyment

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