redbox issues $325,000 of5%, four-yer bonds dated january 1,2013, that pay interest semiannually on june 30 and december 31. they are issued at $292,181 and their market rate is 8% at the issue date.
1.prepare the january1, 2013, journal entry to record the bonds issuance.
2. determine the total bond interest expense to be recognized over the bonds life.
3.prepare an effective interest amortization table for the bonds first two years.
4.prepare the journal entries to record the first two interest payments.