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August 14th, 2017 
admin | On 1-1-2014 Avion, Inc. Sold Bonds with these particulars: | ||||||||
| Face amt. of Bonds | 425,000 | |||||||
| Matures on 1-1-2024, in 10 yrs. | ||||||||
| Stated annual rate of int. | 7.75% | |||||||
| Effective annual rate of interest | 10.00% | |||||||
| Int. is paid every six months; 6-30, 12-31 | ||||||||
| Req. 1, Assume the effective Interest Method in accounting for these Bonds, build a 10 year amortization table | ||||||||
| Req. 2, Give General Journal entries to record the sale of the bonds, and the 1st 4 interest payments |
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