(Answered) Question - on january 1 2011 block company issued 100000 of

Accounting

Question - On January 1, 2011, Block Company issued $100,000 of 10%, 5 year bonds, with semiannual interest payments on July 1 and January 1. The bonds were issued at $92,639, yielding an effective interest rate of %12. Block Company uses an effective interest method of amortization.

A. Make an amortization schedule for the issuance of the bond and for the next 2 years.

B. Make the Journal entry for the issuance of the bonds, January 1, 2011

C. Make the Journal entry for the July 1, 2011, interest payment.

D. Make the year-end adjusting entry for December 31, 2011.

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