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help, I have answer questions 1-3 but this is question# 4, I cannot figure out this one. Cole Corporation issued $475,000,8%,22-year bonds on January 1,
help, I have answer questions 1-3 but this is question# 4, I cannot figure out this one.
Cole Corporation issued $475,000,8%,22-year bonds on January 1, 2014, for $430,147. This price resulted in an effective-interest rate of9% on the bonds. Interest is payable annually on January 1. Cole 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 Cole Corporation.(Round answers to 0 decimal places, e.g. 150.)
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Prepare the journal entries to record the issuance of the bonds.(Round answers to 0 decimal places, e.g. 125. Credit account titles are automatically indented when amount is entered. Do not indent manually.)
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Prepare the journal entries to record the accrual of interest and the discount amortization on December 31, 2014.(Round answers to 0 decimal places, e.g. 125. Credit account titles are automatically indented when amount is entered. Do not indent manually.)
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Prepare the journal entries to record the payment of interest on January 1, 2015.(Round answers to 0 decimal places, e.g. 125. Credit account titles are automatically indented when amount is entered. Do not indent manually.)
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