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Entries for TS: Effective Interest Method Note: When answering the following questions, round answers to the nearest whole dollar. a. Prepare a bond amortization schedule
Entries for TS: Effective Interest Method Note: When answering the following questions, round answers to the nearest whole dollar. a. Prepare a bond amortization schedule for the life of the bonds using the effective interest method. Note: When answering the following questions, round answers to the nearest whole dollar. b. Record the entry for the purchase of the bonds by West Company on July 1 of Year 1 . d. Record the receipt of interest on January 1 of Year 2. e. Record the sale of all of the bonds on January 2 of Year 2 for $83,050. f. Record the adjustment to the Fair Value Adjustment account on December 31 of Year 2, assuming no additional TS investments. Entries for TS: Effective Interest Method Note: When answering the following questions, round answers to the nearest whole dollar. a. Prepare a bond amortization schedule for the life of the bonds using the effective interest method. Note: When answering the following questions, round answers to the nearest whole dollar. b. Record the entry for the purchase of the bonds by West Company on July 1 of Year 1 . d. Record the receipt of interest on January 1 of Year 2. e. Record the sale of all of the bonds on January 2 of Year 2 for $83,050. f. Record the adjustment to the Fair Value Adjustment account on December 31 of Year 2, assuming no additional TS investments
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