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I need help with this, please. Thank you! The Carrying Value is 731,760. Lesney Inc issued $900,000, 7%, 10-year bonds on December 31, 2021, for
I need help with this, please. Thank you! The Carrying Value is 731,760.
Lesney Inc issued $900,000, 7%, 10-year bonds on December 31, 2021, for $731,760 cash. The current market rate is 10%. The corporation uses the effective interest amortization method. Interest is payable semiannually on June 30 and December 31. Prepare an amortization schedule for the first five payment periods using the format shown below: Cash Interest paid Period Interest Expense Discount Amortized Unamortized Discount 168,240 Carrying Valu 731,761 Period Ending 12/31/2021 6/30/2022 12/31/2022 6/30/2023 12/31/2023 6/30/2024 12/31/2024 6/30/20251 12/31/2025Step by Step Solution
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