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Crane Corporation issued $370,000 of 5-year bonds on April 1, 2023. Interest is paid semi-annually on April 1 and October 1. Below is a partial
Crane Corporation issued $370,000 of 5-year bonds on April 1, 2023. Interest is paid semi-annually on April 1 and October 1. Below is a partial amortization schedule for the first few years of the bond issue. Semi-Annual Interest Period Apr.1, 2023 Oct. 1, 2023 Apr. 1, 2024 Oct. 1, 2024 Apr. 1, 2025 Oct. 1, 2025 Apr. 1, 2026 Interest Payment $7,400 7,400 7,400 7,400 7,400 7,400 Interest Expense $5,806 5,782 5,758 5,733 5,708 5,683 Amortization $1,594 1,618 1,642 1,667 1,692 1,717 Carrying Amount of Bonds $387,061 385,467 383,849 382,207 380,540 378,848 377,131 r D-
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