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Cullumber Corporation issued $7,680,000 of 8% bonds on October 1,2024 , due on October 1,2029 . The interest is to be paid twice a year
Cullumber Corporation issued $7,680,000 of 8% bonds on October 1,2024 , due on October 1,2029 . The interest is to be paid twice a year on April 1 and October 1. The bonds were sold to yield 10% effective annual interest. Cullumber Corporation closes its books annually on December 31. (a) Complete the following amortization schedule for the dates indicated. Use the effective-interest method. (Round answers to 0 decimal places, e.g. 5,275.) Cullumber Corporation issued $7,680,000 of 8% bonds on October 1,2024 , due on October 1,2029 . The interest is to be paid twice a year on April 1 and October 1. The bonds were sold to yield 10% effective annual interest. Cullumber Corporation closes its books annually on December 31. (a) Complete the following amortization schedule for the dates indicated. Use the effective-interest method. (Round answers to 0 decimal places, e.g. 5,275.)
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