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Help is needed with this question. On January 1, 2022, Gnosch Corp. issued $1,500,000 par value, 10%, 3-year bonds when the market rate of interest
Help is needed with this question.
On January 1, 2022, Gnosch Corp. issued $1,500,000 par value, 10%, 3-year bonds when the market rate of interest was 11%. Interest is payable annually each December 31. Gnocchis incurred bonds issue costs of $25,000. Prepare the amortization table for the bonds.
I prepared the journal entry but was stuck on preparing the amortization table.
Account January 1, 2022 1,438,342 Cash Discount on Bonds Payable 61,658 Bonds Payable 1,500,000Step by Step Solution
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