What is the bond issue price on august one, Financial Accounting

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What is the bond issue price on august one

Problem

Western Company sold $ 1,500,000 of five-year, 12% bonds on August 1, 2017. The effective interest rate is 10% and the interest payment dates are July 31st and January 31st of each year. Yu has a December 31st year end and the company uses the effective interest rate method to amortize the bond discount/premium. What is the bond issue price on August 1, 2017.

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Financial Accounting: What is the bond issue price on august one

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