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Need help solving this part please :) On January 1, 2017, Blossom Satellites issued $1,680,000, 10-year bonds. The bonds pay semi-annual interest on July 1
Need help solving this part please :)
On January 1, 2017, Blossom Satellites issued $1,680,000, 10-year bonds. The bonds pay semi-annual interest on July 1 and January 1, and Blossom has a December 31 year end. A partial bond amortization schedule is presented below: Semi-Annual Interest Period Interest Interest Payment Expense Bond Amortized Cost Amortization Jan 1, 2017 $1,560,617 July 1, 2017 $ [2] $4,222 1,564,839 $ (1 50,400 Jan 1, 2018 54,769 4,369 1,569,208 July 1, 2018 50,400 54,922 [3] 1,573,730 Jan. 1, 2019 50,400 55,081 [4] [5] July 1, 2019 50,400 55,244 4,844 1,583,255 Jan. 1, 2020 50,400 55,414 5,014 1,588,269 What amounts would be reported as current and non-current in the liabilities section of Blossom's December 31, 2017, balance sheet? BLOSSOM SATELLITES Balance Sheet (Partial) $Step by Step Solution
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