Avion, Inc_Issue of bonds payable



On 1-1-2014 Avion, Inc. Sold Bonds with these particulars:
Face amt. of Bonds 425,000
Matures on 1-1-2024, in 10 yrs.
Stated annual rate of int. 7.75%
Effective annual rate of interest 10.00%
Int. is paid every six months; 6-30, 12-31
Req. 1, Assume the effective Interest Method in accounting for these Bonds, build a 10 year amortization table
Req. 2, Give General Journal entries to record the sale of the bonds, and the 1st 4 interest payments


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