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Elis Company issues 6.5%, five-year bonds dated January 1, 2021, with a $250,000 par value. The bonds pay interest on June 30 and December 31
Elis Company issues 6.5\%, five-year bonds dated January 1, 2021, with a $250,000 par value. The bonds pay interest on June 30 and December 31 and are issued at a pnce of $255,333. The annual market rate is 6% on the 1ssue date. Requlred: 1. Calculate the total bonid iriterest expense over the bonds' life 2. Prepare a straight-line amortization table for the bonds' life 3. Prepare the joumal enthes to record the first two interest payments. Complete this question by entering your answers in the tabs below. Complete this question by entering your answers in the tabs below. calculate the total bond interest expense over the bonds' life. Prepare a straight-line amortization table for the bonds life. Note: Round your intermediate and final answers to the nearest whole dollar. Journal entry worksheet Nate: Enter debits before credits. Journal entry worksheet Record the second interest payment on December 31 . Notet Enter debits before credits
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