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2. Firm XYZ purchases $200,000, 8%, four-year bonds on 1/1/1 for $187,073 57 on 1/111. Interest payments are due 6/30 and 12/31. The bonds are
2. Firm XYZ purchases $200,000, 8%, four-year bonds on 1/1/1 for $187,073 57 on 1/111. Interest payments are due 6/30 and 12/31. The bonds are sold to yield 10% (effective rate) and are classified as trading securities on Firm XYZs books Further assume the fair value (FMV) of the bonds is as follows: O pts 12/31/1 FMV = 180,000 12/31/2 FMV = 195,000 Complete the following partial amortization table and prepare the journal entries Firm XYZ would record from 1/1/1 through 12/31/2 (20 points). You can use the "Table" function below to draw a table in the text box. If you don't want to use the table function, you just need to type the numbers an make sure the numbers in each column are aligned without drawing grids. Date Cash Interest Revenue Amortization Carrying Value 1/1/1 $187,073.57 6/30/1 12/31/1 6/30/2 12/31/2
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