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I need help with the amoritization table. Check my work mode : This shows what is correct or incorrect for the work you have completed
I need help with the amoritization table.
Check my work mode : This shows what is correct or incorrect for the work you have completed so far. It does not indicate completion. 2 Exercise 10-19B (Static) Effective Interest: Amortization of bond premium LO P5 Quatro Co. issues bonds dated January 1, 2020, with a par value of $400,000. The bonds' annual contract rate is 13%, and interest is paid semiannually on June 30 and December 31. The bonds mature in three years. The annual market rate at the date of issuance is 12%, and the bonds are sold for $409,850. 33.33 points 1. What is the amount of the premium on these bonds at issuance? 2. How much total bond interest expense will be recognized over the life of these bonds? 3. Prepare an effective interest amortization table for these bonds. Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. . Required 1 Required 2 2 Required 3 Prepare an effective interest amortization table for these bonds. (Round all amounts to the nearest whole dollar.) . . Cash Interest Pald Bond Interest Expense Premium Amortization Unamortized Premium Carrying Value S s 1,409 Semiannual Interest Period-End 01/01/2020 08/30/2020 12/31/2020 06/30/2021 12/31/2021 06/30/2022 12/31/2022 Total 26.000 $ 26,000 26.000 26,000 26,000 26.000 156,000 $ 404.983 24,591$ 24,506 24,417 24,322 24,221 24,474 146,150 $ 1.494 1,583 1,678 1,779 1.526 9,850 9,850 S 409,850 $ 8.208 X 408,280 6,566 X 406,566 x 4,924 X 3.282 X 403,305 1,640 401,526 0 0 400.000 S
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