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Duval Co. issues four-year bonds with a $111,000 par value on June 1, 2015, at a price of $106,880. The annual contract rate is 8%,
Duval Co. issues four-year bonds with a $111,000 par value on June 1, 2015, at a price of $106,880. The annual contract rate is 8%, and interest is paid semiannually on November 30 and May 31.
1. | Prepare an amortization table for these bonds. Use the straight-line method of interest amortization. (Round your answers to the nearest dollar amount.) |
semi annual | unamitorized | carrying |
period end | discount | value |
6.1.15 | ||
11.30.15 | ||
5.31.16 | ||
11.30.16 | ||
5.31.17 | ||
11.30.17 | ||
5.31.18 | ||
11.30.18 | ||
5.31.19 |
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