(Answered) Question - on january 1 2018 white water issues 400000 of 5

Accounting

Question - On January 1, 2018, White Water issues $400,000 of 5% bonds, due in 15 years, with interest payable semiannually on June 30 and December 31 each year.

Assuming the market interest rate on the issue date is 4%, the bonds will issue at $444,793.

Required -

1. Compete the first three rows of an amortization table.

Date	Cash Paid	Interest Expense	Decrease in Carrying Value	Carrying Value
1/1/18
6/30/18
12/31/18

2. Record the bond issue on January 1, 2018, and the first two semiannual interest payments on June 30, 2018, and December 31, 2018.

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