Question - On January 1 of the current year, Feller Corporation issued $3,000,000 of 10% debenture bonds on a basis to yield 8%. Interest is payable semiannual on June 30 and December 31 and the bonds mature in 6 years. The effective-interest method is used.
(a) Calculate the Selling Price of the bonds?
(b) Prepare an Amortization Table.
(c) Prepare bond issuance entry.
(d) Prepare the first two years interest.