(Answered) Question - on january 1 2015 lowry co issued ten year bonds

Accounting

Question - On January 1, 2015, Lowry Co. issued ten year bonds with a face value of $2,000,000 and a stated interest rate of 11%, payable semiannually on June 30 and December 31. The bonds were sold to yield 10%. Table values are:

1. Calculate the issue price of the bonds using Excel

2. Complete an amortization table.

3. On January 2, 2017, the bonds were called at 101. Complete the journal entry for January 2, 2017, using the effective interest method.

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