Question
Corporate Bond (AFS) Amortization Face 218,500 Years 5 Compounding Periods/Year 1 Annual Stated Rate 4.85% Annual Effective Rate 7.00% Purchase price 199,238 Stated interest 4.85%
Corporate Bond (AFS) Amortization Face 218,500 Years 5 Compounding Periods/Year 1 Annual Stated Rate 4.85% Annual Effective Rate 7.00% Purchase price 199,238 Stated interest 4.85% Periods 5 Effective interest 7.00% Bond Carrying Cash Interest Disc (Prem) Amount Period Received Revenue Amortization of Bonds 230,036 12/31/2021 10,597 13,947 3,349 202,588 12/31/2022 10,597 14,181 3,584 206,172 12/31/2023 10,597 14,432 3,835 210,006 12/31/2024 10,597 14,700 4,103 214,110 12/31/2025 10,597 14,988 4,390 218,500 46387 10597.25 15295 4697.75 223197.75 What are the journal entries
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Intermediate accounting
Authors: J. David Spiceland, James Sepe, Mark Nelson
7th edition
978-0077614041, 9780077446475, 77614046, 007744647X, 77647092, 978-0077647094
