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What is the journal entry to record the bond issuance on dec

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Goal sports ltd is authorised to issue $3,200,000 of 10% 10 year bonds payable. on dec 31 20x0 when the market interest rate is 12% the company issues $2,500,000 of the bonds. goal sports ltd amortizes bond discounts by the effective interest method. the semi annual interest dates are june 30 and dec 31

Problem 1: Make a bond amortization table for the first four semi annual interest periods.

Problem 2: What is the journal entry to record the bond issuance on Dec 31, 20X0? Use 3 decimal point time value of money factors in calculating your answers.

Reference no: EM132750408

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