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Help! Accounting for coupon payment and amortization of bond discount - Journalize the coupon payment and amortization of bond discount for a full year of
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Accounting for coupon payment and amortization of bond discount - Journalize the coupon payment and amortization of bond discount for a full year of the following bonds for CGS Corporation: $2,750,000 of 10 -year, coupon paid annually, 8% at 97. . Use straight line method. 1. Use face amount and coupon rate to calculate coupon payment ii. Use proceeds and tace amount to calculate discount or premium iii. Use straight-line method to amortize the premium or discount iv. Proceods can be determined using the corvention of 100 for bonds convention of 100 - issued at face amount at 97 means issued at face amount*97\% Whenever the number is less than 100 , its issued at discount Whenever the number is more than 100 , its issued at premium Using the information given for this bond, prepare an amortization schedule for the life of the bond. Please include labels for period, coupon payment, interest expense, amortization of discount, unamortized discount and carrying amount. Use the straight line method of amortization. Receive 1 extra credit point on accurately completing the schedule on your chapter 11 homework. Accounting for coupon payment and amortization of bond discount - Journalize the coupon payment and amortization of bond discount for a full year of the following bonds for CGS Corporation: $2,750,000 of 10 -year, coupon paid annually, 8% at 97. . Use straight line method. 1. Use face amount and coupon rate to calculate coupon payment ii. Use proceeds and tace amount to calculate discount or premium iii. Use straight-line method to amortize the premium or discount iv. Proceods can be determined using the corvention of 100 for bonds convention of 100 - issued at face amount at 97 means issued at face amount*97\% Whenever the number is less than 100 , its issued at discount Whenever the number is more than 100 , its issued at premium Using the information given for this bond, prepare an amortization schedule for the life of the bond. Please include labels for period, coupon payment, interest expense, amortization of discount, unamortized discount and carrying amount. Use the straight line method of amortization. Receive 1 extra credit point on accurately completing the schedule on your chapter 11 Step by Step Solution
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