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Blossom Corporation issued $360,000 of 5-year bonds on April 1, 2020. Interest is paid semi-annually on April 1 and October 1. Below is a
Blossom Corporation issued $360,000 of 5-year bonds on April 1, 2020. Interest is paid semi-annually on April 1 and October 1. Below is a partial amortization schedule for the first few years of the bond issue. Semi-Annual Interest Interest Interest Period Payment Expense Amortization Bond Amortized Cost Apr.1.2020 $376,600 Oct. 1.2020 $7,200 $5,649 $1,551 375,049 Apr. 1, 2021 7,200 5,626 1,574 373,475 Oct. 1, 2021 7,200 5,602 1,598 371,877 Apr. 1.2022 7,200 5.578 1,622 370,255 Oct. 1, 2022 7,200 5,554 1,646 368,609 Apr. 1, 2023 7,200 5,529 1,671 366,938
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Cost Accounting A Managerial Emphasis
Authors: Horngren, Srikant Datar, George Foster, Madhav Rajan, Christ
6th Canadian edition
978-0132893534, 9780133389401, 132893533, 133389405, 978-0133392883
