Complete the first three rows of an amortization

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Reference no: EM131268002

On January 1, 2018, Ripstick Park issues $760,000 of 6% bonds, due in eleven years, with interest payable semiannually on June 30 and December 31 each year. Assuming the market interest rate on the issue date is 7%, the bonds will issue at $702,365.

1. Complete the first three rows of an amortization table through December 31, 2018. (Round your answers to the nearest dollar amount. Enter all amounts as positive values.)

2. Record the bond issue on January 1, 2018, and the first two semi-annual interest payments on June 30, 2018, and December 31, 2018. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your answers to the nearest dollar amount.)

Reference no: EM131268002

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