Duval Co. issues four-year bonds with a $100,000 par value on June 1, 2016, at a price of $95,948 The annual contract rate is 7%, and interest is paid semiannually on November 30 and May 31 1. Prepare an amortization table for these bonds. Use the straight-line method of interest amortization. (Round your answers to the nearest dollar amount.) journal entries to record the first interest payment, accrued interest as of December 31, 2. Prepare 2016 and to record the second interest payment. (Round your answers to the nearest dollar amount.)
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