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  3. on june 1,2024, ivanhoe bottle company sold $3,240

On June 1,2024, Ivanhoe Bottle Company sold $3,240,000 in long-term bonds for $2,841,822. The bonds...

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Accounting

On June 1,2024, Ivanhoe Bottle Company sold $3,240,000 in long-term bonds for $2,841,822. The bonds will mature in 10 years and have a stated interest rate of 8% and a yield rate of 10%. The bonds pay interest annually on May 31 of each year. The bonds are to be accounted for under the effective-interest method.
(a)
Construct a bond amortization table for this problem to indicate the amount of interest expense and discount amortization at each May 31. Include only the first four years. (Round answers to 0 decimal places, e.g.25,000.)
\table[[Date,Credit Cash,Debit Interest Expense,Credit Bond Discount Carrying Amount of Bonds],[6/1/24,,,],[531?25,,,],[531?27,,,],[53128,,,]]
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