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Bonds Issued at a Premium (Effective Interest) Haley Industries issued $100,000 of 13%, 7-year bonds on January 1, 2024, with a $4,564 premium. Interest
Bonds Issued at a Premium (Effective Interest) Haley Industries issued $100,000 of 13%, 7-year bonds on January 1, 2024, with a $4,564 premium. Interest is paid annually on December 31. The market rate of interest is 12%. Required: Prepare the amortization table using the effective interest rate method. If an amount box does not require an entry, leave it blank. If the answer is zero, enter "0". When required, round your answers to the nearest whole dollar. And, round final year to complete the amortization. Haley Industries Amortization Table Interest Cash Payment Expense Bonds Payable (Credit) (Debit) (Debit) Premium on Premium on Bonds Payable Balance Carrying Period Value At issue 12/31/24 12/31/25 12/31/26 12/31/27 12/31/28 12/31/29 12/31/30
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