Question
Hello. Accounting Homework question. Very confused here. Bramble Corp. issued $470,000,8%,20-year bonds on January 1, 2017, for $389,972. This price resulted in an effective-interest rate
Hello. Accounting Homework question. Very confused here. Bramble Corp. issued $470,000,8%,20-year bonds on January 1, 2017, for $389,972. This price resulted in an effective-interest rate of10% on the bonds. Interest is payable annually on January 1. Bramble uses the effective-interest method to amortize bond premium or discount. Prepare the schedule using effective-interest method to amortize bond premium or discount of Bramble Corp.. (Round answers to 0 decimal places, e.g. 5,250.) Broken into groups as follows, Interest to be Paid, Interest Expense to be recorded, Discount Amortization, Unamortized Discount, Bond Carrying Value.
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