Problem
On January 1 of this year, Houston Company issued a bond with a face e of $10, 600 and a coupon rate of 6 percent The bond mat in 3 years and pays interest every December 31. When the bond was issued the annual rate of was 5 amortization method (Fv of $1, PV of $1, FVA of $1. and PVA of $1)(Use the appropriate factor(s) from the tables provided. Round your final answer to whole dollars.)
1. Complete a bond amortization schedule for all three years of the bond's life, (Enter all values as positive values.)
2. What amounts will be reported on the income statement and balance sheet at the end of Year 1 and Year 2?