sam sluggers co is building a new hockey arena at a cost of $2,000,000. it received a downpayment of $500,000 from local businesses to support the project, and now needs to borrow $1,500,000. to complete the project. it therefore decides to issue $1,500,000. of 10.5% 10 year bonds. these bonds were issued on January 1, 2002 and pay interest annually on each January 1. the bonds yeild 10% sluggers paid 50,000 in bond issue costs related to the bond sale.
a) prepare journal entry to record the issuance of the bonds and the related bond issue costs incurred on January 1, 2002

b) prepare a bond amortization schedule up to and including January 1, 2006 using the effective interset method

c) assume that on July 1, 2005 sam sluggers co., retires half of the bonds at a cost of $800,000 plus accrued interest. prepare the journal entry to record this retirement.