6. B Corp issued 8 % bonds dated January 1 with a face amount of $10,000,000 on January 1, 2021. The bonds mature on December 31, 2023. For bonds of similar risk and maturity, the market yield is 6%. Interest is paid semi-annually on June 30 and December 31.
Required:(Show the computing process and precise journal entries)
A. Determine the price of the bonds.
B. Prepare the journal entry to record their issuance.
C. Prepare a schedule reflecting the changes in the debt over its term to