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Oak Branch Inc. issued $860,000 of 8%, 10-year bonds when the market rate was 7%. They received $921,127. Interest was paid semi-annually. Prepare an amortization
Oak Branch Inc. issued $860,000 of 8%, 10-year bonds when the market rate was 7%. They received $921,127. Interest was paid semi-annually. Prepare an amortization table for the first three years of the bonds. Round intermediate and final answers to whole dollar amount.
Cash Interest Payment | Interest on Carrying Value | Amortization of Premium | Carrying Value | |
Jan. 1, Year 1 | $ | |||
June 30, Year 1 | $ | $ | $ | |
Dec. 31, Year 1 | ||||
June 30, Year 2 | ||||
Dec. 31, Year 2 | ||||
June 30, Year 3 | ||||
Dec. 31, Year 3 |
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