Carlson Candies issued ($ 300,000) of (83 / 8 %), five-year bonds on January 1, 2020, when

Question:

Carlson Candies issued $\$ 300,000$ of $83 / 8 \%$, five-year bonds on January 1, 2020, when the market interest rate was $91 / 2 \%$. The company pays interest annually at year-end. The issue price of the bonds was $\$ 287,041$.

{Requirement}

Create a spreadsheet model to prepare a schedule to amortize the bonds. Use the effective interest method of amortization. Round to the nearest dollar, and format your answer as shown here. image text in transcribed