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Headland Co. sells $451,000 of 8% bonds on March 1, 2020. The bonds pay interest on September 1 and March 1. The due date of
Headland Co. sells $451,000 of 8% bonds on March 1, 2020. The bonds pay interest on September 1 and March 1. The due date of the bonds is September 1, 2023. The bonds yield 12%. Give entries through December 31, 2021. Prepare a bond amortization schedule using the effective-interest method for discount and premium amortization Amortize premium or discount on interest dates and at year-end. (Round answers to decimal places, eg. 38,548.) Schedule of Bond Discount Amortization Effective-Interest Method Bonds Sold to Yield Date Cash Paid Interest Expense Discount Amortized Carryin Amount Bonds 3/1/20 $ 9/1/20 3/1/21 9/1/21 3/1/22 9/1/22 3/1/23 9/1/23
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