[Rarequeen]

I would like to know how do I find the cash payment I think I am on the right track but need conformation

HEATHROW

Bonds issued, face value $2,000,000
Annual interest 6%
Maturity in years 15
Issuance price 1,728,224
Issue price for Part 6 $2,447,990

HEATHROW
General Journal
Part 1.
Trans.
Date Account Titles no. Debit Credit
2004
Jan 1 Cash 1,728,224
Discount on Bonds Payable 271,776
Bonds Payable 2,000,000


Part 2.

Cash payment
Straight-line discount amortization
Bond interest expense


Part 3.

Thirty payments of $60,000
Par value at maturity
Total repaid
Less amount borrowed
Total bond interest expense

or:

Thirty payments of $60,000
Plus discount
Total bond interest expense