Transactions from Demo Communications: 2020 Jan 1 Issued $6,000,000 of 9%, 10-year bonds payable when the market rate is

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answerhappygod
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Transactions from Demo Communications: 2020 Jan 1 Issued $6,000,000 of 9%, 10-year bonds payable when the market rate is

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Transactions from Demo Communications:
2020
Jan 1 Issued $6,000,000 of 9%, 10-year bonds payable whenthe market rate is 8%. The issuing price is$6,405,300
Jul 1 Paidsemi-annual interest and amortized bonds by the effectiveinterest method on the 9% bonds payable.
Dec 31 Accrued semi-annual interest expense and amortizedbonds by the effective interest method on the 9% bondspayable.
2021
Jan 1 Paid semi-annual interest.
Jul 1 Paid semi-annual interest.
2030
Jan 1 Paid the 9% bonds at maturity.
Requirements:
1. Prepare the bond amortization table for 4 periods (2years).
2. Journalize all the transactions of Demo Communicationson 2020.
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