National Orthopedics Co. issued 9% bonds, dated January 1, with a face amount of $900,000 on January 1, 2021. The bonds

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National Orthopedics Co. issued 9% bonds, dated January 1, with
a face amount of $900,000 on January 1, 2021. The bonds mature on
December 31, 2024 (4 years). For bonds of similar risk and maturity
the market yield was 10%. Interest is paid semiannually on June 30
and December 31. (FV of $1, PV of $1, FVA of $1, PVA
of $1, FVAD of $1 and PVAD of $1) (Use
appropriate factor(s) from the tables provided.)

Required:
1. Determine the price of the bonds at
January 1, 2021.
2. Prepare the journal entry to record their
issuance by National on January 1, 2021.
3. Prepare an amortization schedule that
determines interest at the effective rate each period.
4. Prepare the journal entry to record
interest on June 30, 2021.
5. Prepare the appropriate journal entries at
maturity on December 31, 2024.
Determine the price of the bonds at January 1, 2021. (Round
final answers to the nearest whole dollar.)
Prepare the journal entry to record their issuance by National
on January 1, 2021. (If no entry is required for a
transaction/event, select "No journal entry required" in the first
account field. Round intermediate calculations and final answers to
the nearest whole dollar.)
Journal entry worksheet
Note: Enter debits before credits.
Prepare an amortization schedule that determines interest at the
effective rate each period. (Round intermediate calculations
and final answers to the nearest whole dollar.)
Prepare the journal entry to record interest on June 30,
2021. (If no entry is required for a transaction/event, select
"No journal entry required" in the first account field. Round
intermediate calculations and final answers to the nearest whole
dollar.)
Journal entry worksheet
Note: Enter debits before credits.
Note: Enter debits before credits.
Note: Enter debits before credits.