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On January 1, 2018, Kenny Incorporated issued 1,580,000 par value, 7% , 7-year bonds (i.e., there were 1580 of 1000 par value bonds in the
On January 1, 2018, Kenny Incorporated issued 1,580,000 par value, 7% , 7-year bonds (i.e., there were 1580 of 1000 par value bonds in the issue). Interest is payable semiannually each January 1 and July 1 with the first interest payment due at the end of the period on July 1. The issue price of the bonds based on a 6% market rate of interest is 1,669,239 . Prepare the amortization table for the first 2 years assuming that Kenny uses the straight-line method.
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