Question: save the image to see clearly , please answer correct On January 1, Year 1, Big Lots Corporation issued $4,000,000 par value bonds that mature

save the image to see clearly , please answer correct On Januarysave the image to see clearly , please answer correct

On January 1, Year 1, Big Lots Corporation issued $4,000,000 par value bonds that mature in 2 years. The bonds pay interest semiannually on June 30, and December 31 at an annual coupon rate of 8% and market rate on the day of sale was 10%. The company uses the effective interest amortization method and does not use a discount account. Please show the calculations for the following: 1. Record the issuance of bonds on January 1, Year 1. 2. Record the journal entries for the first two interest payments - June 30 and December 31 Year 1. 3. What was the Bond Payable amount reported on the Balance Sheet as of December 31, Year 1? 4. Record the journal entry on the maturity date of the bonds

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