Question Determining the present value of bonds payable and journalizingusing the effective-interest

Question

Determining the present value of bonds payable and journalizingusing the effective-interest amortization method Nicholas Rauschissued $300,000 of 11%, 10-year bonds payable on January 1, 2014.The market interest rate at the date of issuance was 10%, and thebonds pay interest semiannually. Requirements 1.How much cash didthe company receive upon issuance of the bonds payable? (Round allnumbers to the nearest whole dollar). 2.Prepare an amortizationtable for the bonds using the effective-interest method, throughthe first two interest payments. (Round all numbers to the nearestwhole dollar) 3.Journalize the issuance of the bonds on January 1,2014, and payments of the first semiannual interest amount andamortization of the bond June 30, 2014. Explanation are notrequired.