Question
Completing a Debt Amortization Table (Straight Line) Cagney Company sold $211,000 of bonds on January 1, 2024. A portion of the amortization table follows. Period
Completing a Debt Amortization Table (Straight Line) Cagney Company sold $211,000 of bonds on January 1, 2024. A portion of the amortization table follows. Period Cash Payment (Credit) Interest Expense (Debit) Discount on Bonds Payable (Credit) Discount on Bonds Payable Balance Carrying Value At issue $8,000 $203,000 06/30/24 $12,000 $12,800 $800 7,200 203,800 12/31/24 12,000 12,800 800 6,400 204,600 06/30/25 ? ? ? ? ? Required: 1. Determine the stated interest rate on these bonds. Round your answer to the nearest whole number. fill in the blank 1 % 2. Calculate the interest expense and the discount amortization for the interest period ending on June 30, 2025. Interest expense $ fill in the blank 2 Discount amortization $ fill in the blank 3 3. Calculate the liability balance shown on a balance sheet after the interest payment is recorded on June 30, 2025. $ fill in the blank 4.
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