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On January 1,2024, Reyes Recreational Products issued $150,000,12%, four-year bonds. Interest is paid semiannually on...

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Accounting

On January 1,2024, Reyes Recreational Products issued $150,000,12%, four-year bonds. Interest is paid semiannually on June 30 and
December 31. The bonds were issued at $141,044 to yield an annual return of 14%.
Required:
Prepare an amortization schedule that determines interest at the effective interest rate.
Prepare an amortization schedule by the straight-line method.
Prepare the journal entries to record interest expense on June: Assessment Tool iFrame o approaches.
Assuming the market rate is still 14%, what price would a second investor pay the first investor on June 30,2026, for $21,000 of the
bonds?
Note: Use Excel, or a financial calculator.
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