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can someone please help me on part (b) ? On January 1,2025 , Concord Company purchased 8% bonds having a maturity value of $320,000 for
can someone please help me on part (b) ?
On January 1,2025 , Concord Company purchased 8% bonds having a maturity value of $320,000 for $346,959.62. The bonds provide the bondholders with a 6% yield. They are dated January 1,2025, and mature January 1, 2030, with interest received on January 1 of each year. Concord Company uses the effective-interest method to allocate unamortized discount or premium, The bonds are classified in the held-to-maturity category. (a) Prepare the journal entry at the date of the bond purchase, (Uist debit entry before credit entry. Credit occount titles are outomatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the occount titles and enter 0 for the amounts. Round answers to 2 decimal places, es 1,225.25.) Prepare a bond amortization schedule. (Round answers to 2 decimal places, ey. 1,225.25.) Prepare a bond amortization schedule. (Round answers to 2 decimal ploces, es. 1,225.25.) Step by Step Solution
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