On January 1, Year 1, Kenneth Cole Inc. issued $2,000,000, 5%, 10-year bonds, with interest payable on June 30, and December 31 to yield 6%. The bonds were issued for $1,851,234. : Given the...

On January 1, Year 1, Kenneth Cole Inc. issued $2,000,000, 5%, 10-year bonds, with interest payable on June 30, and December 31 to yield 6%. The bonds were issued for $1,851,234.

:

Given the above information,

Prepare the amortization schedule for Year 1 and Year 2 using the effective interest rate

method.

Use the following format and round figures to nearest dollar.

Date
Cash Paid
Interest Exp
Amortization
Bond Carrying Value