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Answer this in detail please. On March 1, 2017, Quinto ning Inc issued a $580,000, 11%, three-year bond. Interest is payable semiannually beginning September 1,
Answer this in detail please.
On March 1, 2017, Quinto ning Inc issued a $580,000, 11%, three-year bond. Interest is payable semiannually beginning September 1, 2017. Required Part 1 a. Calculate the bond issue price assuming a market interest rate of 10% on the date of issue. (Do not round intermediate calculations. Round the final answer to nearest whole dollar.) Total issue price b. Using the effective interest method prepare an amortization schedule. (Do not round intermediate calculations. Round the final answers to nearest whole dollar. Enter a the amounts as positive values. Cash Interest Period Interes Premium Unamortized carrying value Ending Paid Expense Mar. 1117 Sept 1/17 Mar 1218 Sept. 1/18 Mar 1/19 Sept. 119 Mar 1/20Step by Step Solution
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