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On January 2, 2009, BV Corporation issued $1,500,000 of 10% bonds at 97 due December...

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Accounting

On January 2, 2009, BV Corporation issued $1,500,000 of 10% bonds at 97 due December 31, 2012. Interest on the bonds is payable annually each December 31. The discount on the bonds is being amoritzed using the straight line method over the life of the bonds.

Prepare all journal entries required over the life of the bond issue. (a) Issuance (b) interest payments, and (c) retirement. Prepare the amortization schedule for the bond as a part of your response to part (b)

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