IS Help a Default BIU AA EEEEE 1 Fast Tires issued $5,000,000 of five year, 10 bonds on June 30, 2015, for $5,405,550 The bonds pay interest quarterly, beginning September 30, 20Y5 At the date of issuance, the market rate was 8 Calculate the interest expense and bond amortization for the first fiscal year using the a Straight line method for amortization b Effective interest rate method for amortization Use the information above to prepare the journal entries to record the issuance, first interest payment, and retirement of the bonds for Fast Tires Assume the company uses the straight line method for amortization

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IS Help a Default BIU AA EEEEE 1  Fast Tires issued $5,000,000 of five year, 10  bonds on June 30, 2015, for $5,405,550  The bonds pay interest quarterly, beginning September 30, 20Y5  At the date of issuance, the market rate was 8   Calculate the interest expense and bond amortization for the first fiscal year using the  a  Straight line method for amortization b  Effective interest rate method for amortization Use the information above to prepare the journal entries to record the issuance, first interest payment, and retirement of the bonds for Fast Tires  Assume the company uses the straight line method for amortization

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IS Help a Default BIU AA EEEEE 1. Fast Tires issued $5,000,000 of five-year, 10% bonds on

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Financial and Managerial Accounting

IS Help a Default BIU AA EEEEE 1. Fast Tires issued $5,000,000 of five-year, 10% bonds on

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Financial and Managerial Accounting

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