Venzuela Co. is constructing a brand new hockey area at a value of $2,500,000. It obtained a down fee of $500,000 from native companies to assist the challenge and now must borrow $2,000,000 to finish the challenge. It due to this fact decides to difficulty $2,000,000 of 10.5%, 10-year bonds. These bonds had been issued on January 1, 2018, and pay curiosity yearly on every January 1. The bonds yield 10%.
a. Put together the journal entry to file the issuance of the bonds on January
b. Put together a bond amortization schedule as much as and together with January 1,
c. Assume that on July 1, 2021, Venzuela Co. retires half of the bonds at a
price of $1,065,000 plus accrued curiosity. Put together the journal entry to
file this retirement. Economics homework assist