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Corporation issued $620,000 of 5%, 15-year bonnd payable on March 31,2016. The market interest rate...

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Accounting

Corporation issued $620,000 of 5%, 15-year bonnd payable on March 31,2016. The market interest rate at the date of issuance was 10%, and the Corporation bonds pay interest semiannually. Corporation's year-end is March 31.

Record Corporation's issuance of the bonds on March 31, 2016 and payment of the first semiannual interest amount and amortization of the bond discount on September 30, 2016

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