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On Jan 1, 2019, AML Company issued bonds. The compounding period is annually. AML reported the following items (all the items are related to
On Jan 1, 2019, AML Company issued bonds. The compounding period is annually. AML reported the following items (all the items are related to this bond). From the balance sheet: 1-Jan-19 31-Dec-19 31-Dec-20 Bond payable 100,000 A N/A Premium on Bond payable 17,060 C E From the income statement: year 2019 year 2020 Interest expense 3,512 D From cash flow statement: year 2019 year 2020 cash interest payment 5,000 B Please calculate the values for (A) to (E). Please show the work.
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Financial Accounting Tools for business decision making
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
6th Edition
978-1119191674, 047053477X, 111919167X, 978-0470534779
