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Bond Amortization Schedule and Entries The following facts relate to a bond that was issued: Face Amount: ............. $1,000,000 Stated Annual Interest Rate: ..................... 6%
Bond Amortization Schedule and Entries The following facts relate to a bond that was issued: Face Amount: ............. $1,000,000 Stated Annual Interest Rate: ..................... 6% Term: ...................... 4 years Interest Paid: Annually Effective annual interest rate................ 8% The bond sold for ...... ............ $933,757.46 .......... A. Prepare a Bond Amortization Schedule for the life of the bond. B. Prepare the following general journal entries for: 1. When the bond is sold. 2. Each year the cash interest payment is made. 3. When the bond matures
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