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  3. on january 1,2025, concord corporation issued $2,2

On January 1,2025, Concord Corporation issued $2,200,000 face value, 6%,10- year bonds at $2,045,481. This...

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Accounting

On January 1,2025, Concord Corporation issued $2,200,000 face value, 6%,10- year bonds at $2,045,481. This price resulted in an effective-interest rate of 7% on the bonds. The bonds pay annual interest, each January 1. Concord has a calendar year end.
(a)
Your answer is correct.
Prepare the journal entry to record the issue of the bonds on January 1,2025.(Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. List debit entry before credit entry.)
Prepare an amortization table through December 31,2028(three interest periods) for this bond issue. (Round answers to 0 decimal places, e.g.5,275.)
2- Jan. 1,2027
3- Jan. 1,2028
CONCORD CORPORATION
Bond Discount Amortization
Effective-Interest Method - Annual Interest Payments
6% Bonds Issued at 7%
Bond
Discount
Interest Expense
Debit
Credit
Jan. 1
Cash
$
$
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