On January 1, 2017, Bridgeport Corporation issued $520,000 of 7% bonds, due in 10 years. The bonds were issued
for $484,667, and pay interest each July 1 and January 1. Bridgeport uses the effective-interest method.
Prepare the company's journal entries for (a) the January 1 issuance, (b) the July 1 interest payment, and (c) the December 31 adjusting entry. Assume an effective-interest rate of 8%. (Round intermediate calculations to 6 decimal places, e.g. 1.251247 and final answer to 0 decimal places, e.g. 38,548. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.)
I have attached future and present value tables if needed
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