2. On January 1, 2015, Schultz Corporation issued $100,000 of its ten-year, 6% bonds payable at $98,000. The bonds were dated January 1, 2015, and interest is paid each December 31. Required: A. Prepare the journal entry for the sale of the bonds. B. Prepare the journal entry to record the first interest payment. C Assume straight-line amortization and record journal entry for write off premium /discount.

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A: Formulas for different financial ratios are as follows.

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A: Journal: Recording of a business transactions in a chronological order.

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A:

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A: The answer is as fallows

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