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The Tigers Corporation issued bonds on January 1, 2011. The bonds have a face value...

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Accounting

The Tigers Corporation issued bonds on January 1, 2011. The bonds have a face value of $5,000,000 and a stated rate of 14% semiannually on June 30th and December 31st. The bonds mature Dec. 31 2020 (10 year bonds). Assume the bonds are issued to yield 12%.

1. Calculate the bond issue price.

2. Prepare an amortization schedule for the first 4 years of the bonds' life.

3. Please show all work.

3. Give the journal entry for Jan 1, 2011, June 30, 2011 and December 31, 2011.

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