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On January 1, 2015, Jackson Corp. purchased $1,667,000 of 10-year, 9% bonds for $1,722,404. The purchase price was based on a market interest rate of

On January 1, 2015, Jackson Corp. purchased $1,667,000 of 10-year, 9% bonds for $1,722,404. The purchase price was based on a market interest rate of 8.5%. Interest is received semi-annually on July 1 and January 1. Jacksons year end is September 30. Jackson intends to hold the bonds until January 1, 2025, the date the bonds mature. The bonds trading value was $1,728,900 on September 30, 2015.

Prepare a bond amortization schedule for the term of the bonds. (Round answers to 0 decimal places, e.g. 5,275.)

Semi- Annual Interest Period Interest Received 4.5% Interest Revenue 4.25% Premium Amortization Amortized Cost
Issue Date $
1 $ $ $
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