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Current Attempt in Progress On July 1, 2021, Swifty Satellites Corporation issued $ 1,200,000 of 10-year, 7% bonds to yield a market interest rate of
Current Attempt in Progress On July 1, 2021, Swifty Satellites Corporation issued $ 1,200,000 of 10-year, 7% bonds to yield a market interest rate of 6%. The bonds pay semi-annual interest on July 1 and January 1. Swifty has a December 31 year end and records adjusting entries annually. Swifty received $ 1,289,270 when issuing the bonds. Click here to view the factor table. (a) Prepare an amortization table through January 1, 2023 (three interest periods) for this bond issue. (Round all amounts to the nearest dollar, eg. 5,275.) SWIFTY SATELLITES CORPORATION Bond Premium Amortization Semi- annual interest periods Interest to be paid Interest Expense to be Recorded Unamortized Premium Premium Amortization AG July 1/21 $ 00 Prepare an amortization table through January 1, 2023 (three interest periods) for this bond issue. (Round all amounts to the nearest dollar, eg. 5,275.) SWIFTY SATELLITES CORPORATION Bond Premium Amortization Semi- annual interest periods Interest to be paid Interest Expense to be Recorded Premium Amortization Unamortized Premium July 1/21 $ Jan. 1/22 $ $ $ July 1/22 Jan. 1/23
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