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A company issued 10%, 10-year bonds with a par value of $1,010,000 on January 1, at a selling price of $894,295 when the annual
A company issued 10%, 10-year bonds with a par value of $1,010,000 on January 1, at a selling price of $894,295 when the annual market interest rate is 12%. The company uses the effective interest amortization method. Interest is paid semiannually each June 30 and December 31. 1. Prepare an amortization table for the first two payment periods using the following format. 2. Prepare the journal entry to record the first semiannual interest payment. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare an amortization table for the first two payment periods using the following format. Note: Do not round intermediate calculation and round your answers to the 2 decimal places. Semiannual Interest Period 06/30 12/31 Cash Interest Bond Interest Paid Expense Discount Amortization Unamortized Discount Carrying Value < Prev 21 of 30 Nopt>
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