Business, 24.05.2021 15:10 OperatorBravo

On January 1, 2017, Ayayai Corporation issued $1,600,000 face value, 5%, 10- year bonds at $1,482,239. This price resulted in an effective-interest rate of 6% on the bonds. Ayayai uses the effective-interest method to amortize bond premium or discount. The bonds pay annual interest January 1. Prepare the journal entries to record the following transactions. (Round answers to 0 decimal places, e. g. 125. Credit account titles are automatically indented when amount is entered. Do not indent manually.)1. The issuance of the bonds on January 1, 2017.2. Accrual of interest and amortization of thepremium on December 31, 2017.3. The payment of interest on January 1, 2018.4. Accrual of interest and amortization of thepremium on December 31, 2018.

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On January 1, 2017, Ayayai Corporation issued $1,600,000 face value, 5%, 10- year bonds at $1,482,23...

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