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I NEED HELP AS SOON AS POSSIBLE PLEASE Problem 14-1 The following amortization and interest schedule reflects the issuance of 10-year bonds by Bramble Corporation

I NEED HELP AS SOON AS POSSIBLE PLEASE

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Problem 14-1 The following amortization and interest schedule reflects the issuance of 10-year bonds by Bramble Corporation on January 1, 2011, and the subsequent interest payments and charges. The company's year-end is December 31, and financial statements are prepared once yearly Amortization Schedule Carrying Value Amount Cash Interest Unamortized 1/1/2011 2011 $23,590 2012 2013 2014 2015 2016 2017 2018 2019 2020 23,590 23,590 23,590 23,590 23,590 23,590 23,590 23,590 23,590 $26,505 26,943 27,446 28,024 28,689 29,454 30,334 31,345 32,508 33,849 $59,197176,703 179,618 182,971 186,827 191,261 196,360 202,224 208,968 216,723 225,641 235,900 56,282 52,929 49,073 44,639 39,540 33,676 26,932 19,177 10,259 (a) Indicate whether the bonds were issued at a premium or a discount. | Discount (b) Indicate whether the amortization schedule is based on the straight-line method or the effective-interest method. Effactiva intarest mathodT (c) Determine the stated interest rate and the effective-interest rate. (Round answers to 0 decimal places, e.g. 18%.) The stated rate The effective rate 1196 12 % (d) On the basis of the schedule above, prepare the journal entry to record the issuance of the bonds on January 1, 2011. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit January 1, 2011 Discount on Bonds Payable Bonds Payable (e) On the basis of the schedule above, prepare the journal entry to reflect the bond transactions and accruals for 2011. (Interest is paid January 1.) (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit December 31, 2011 (f) On the basis of the schedule above, prepare the journal entries to reflect the bond transactions and accruals for 2018. Bramble Corporation does not use reversing entries. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered Do not indent manually.) Date Account Titles and Explanation Debit Credit

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