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Bonds Issued at a Premium ( Effective Interest ) Haley Industries issued $ 1 3 0 , 0 0 0 of 1 0 % ,

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Bonds Issued at a Premium (Effective Interest)
Haley Industries issued $130,000 of 10%,7-year bonds on January 1,2024, with a $6,543 premium. Interest is paid annually on December 31. The market rate of interest is 9%.
This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answer in the question below.
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Prepare the amortization table using the effective interest rate method. Round interest expense to a dollar and round final year interest expense amount to complete the amortization.
Haley Industries
Amortization Table
\table[[Period,\table[[Cash Payment],[(Credit)]],\table[[Interest Expense],[(Debit)]],\table[[Premium on Bonds],[Payable (Debit)]],\table[[Premium on Bonds],[Payable Balance]],Carrying Value],[At issue,,,,$,$
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