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can you please answer for discount amortization schedule and their related entries for semi annually.. In each of the following independent cases, the company closes
can you please answer for discount amortization schedule and their related entries for semi annually..
In each of the following independent cases, the company closes its books on December 31. Use the effective interest method for discount and premium amortization. Amortize premium or discount on interest dates and at year end. Assume that no reversing entries were made. Click here to view the factor table PRESENT VALUE OF 1. Click here to view the factor table PRESENT VALUE OF AN ANNUITY OF 1. Blossom Co. sells $400,000 of 6% bonds on March 1, 2020. The bonds pay interest on September 1 and March 1. The due date of the bonds is September 1, 2023. The bonds yield 9%. Give entries through December 31, 2021. Construct an amortization table and prepare all of the relevant journal entries from the time of sale. (Hint: Refer to Chapter 3 for tips on calculating and use the calculations from the financial calculator for the journal entries.) (For calculation purposes, use 5 decimal places as displayed in the factor table provided and final answers to O decimal places, eg. 5,275. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Record journal entries in the order presented in the problem.)Step by Step Solution
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