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Aqua Zone issues $1.2 million, 7% bonds on January 1, 2021, that mature in twenty...

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Accounting

Aqua Zone issues $1.2 million, 7% bonds on January 1, 2021, that mature in twenty years. The market interest rate for bonds of similar risk and maturity is 6% and the bonds issue for $1,338,689. Interest is paid semi-annually on June 30 and December 31

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D. Aqua Zone issues $1.2 million, 7% bonds on January 1, 2021, that mature in twenty years. The market interest rate for bonds of similar risk and maturity is 6% and the bonds issue for $1,338,689. Interest is paid semi-annually on June 30 and December 31. Required: Part 1. Fill in the blanks to the first three rows of the amortization schedule below (1pt) Part 2. Record the issuance of the bonds on January 1, 2021. 12 pt. Part 3. Record the interest payments on June 30, 2021 and December 31, 2021 % pt. - Part 1 (4) Decrease (3) Interest in Carrying (5) Carrying (1) Date (2) Cash Paid Expense Value Value - Part 2 January 1, 2021 Debit Credit (To record the bond issue) - Part 3 June 30, 2021 T. T. 1. (First semi-annual interest payment) December 31, 202112 T.T.T.T. . (Second semi-annual interest payment)

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