Question: Really need help on my accounting homework due today. Problem: Gomez issues $240,000 of 6%, 15-year bonds dated January 1, 2017, that pay interest semiannually

Really need help on my accounting homework due today.

Problem: Gomez issues $240,000 of 6%, 15-year bonds dated January 1, 2017, that pay interest semiannually on June 30 and December 31. They are issued at $198,494, and their market rate is 8% at the issue date.

Questions:

Prepare an effective interest amortization table like the one in exhibit 10B.1 for the bonds first two years.

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