Mazeltov Corporation issued $100,000 of 3-year, 10% stated rate bonds on January 1, 2004 The bonds pay interest semi-annually and were sold at a market rate of 12%.
1.What was the issue price of the bonds?
2.Prepare an amortization schedule for the bonds.
3.Record then entry for interest for 6/30/05 using the modified accounting equation format.