Refer to the bond details in Problem 10-6A.
Required
1. Prepare the January 1, 2011, journal entry to record the bonds’ issuance.
2. Determine the total bond interest expense to be recognized over the bonds’ life.
3. Prepare an effective interest amortization table like the one in Exhibit 10B.1 for the bonds’ first two years.
4. Prepare the journal entries to record the first two interest payments.
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