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Need help with second part (b, Bond Amortization Schedule). A) . (B) Exercise 17-3 (Part Level Submission) On January 1, 2017, Oriole Company purchased 9%
Need help with second part (b, Bond Amortization Schedule).
A)
.
(B)
Exercise 17-3 (Part Level Submission) On January 1, 2017, Oriole Company purchased 9% bonds having a maturity value of $210,000, for $227,221.68. The bonds provide the bondholders with a 7% yield. They are dated January 1, 2017, and mature January 1, 2022, with interest receivable January 1 of each year. Oriole Company uses the effective-interest method to allocate unamortized discount or premium. The bonds are classified in the held-to-maturity category. v (a) Your answer is correct. Prepare the journal entry at the date of the bond purchase. (Enter answers to 2 decimal places, e.g. 2,525.25. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Date Account Titles and Explanation Debit Credit Jan. 1, 201 Debt Investments 227221.68 cash 227221.68 Click if you would like to Show Work for this question Open Show WorkStep by Step Solution
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