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On January 1, 2020, Kincaid Inc issued $2,000,000, 5%, 11 year bonds, with interest payable semi annually. Market interest rate on the date of issue
On January 1, 2020, Kincaid Inc issued $2,000,000, 5%, 11 year bonds, with interest payable semi annually. Market interest rate on the date of issue was 6%. Issue price was $1,840,631. Prepare the amortization schedule and journalize the first two interest payments. Round off to the nearest dollar amount. a. Amortization Schedule Payment Interest Payment 0 1 2 3 Interest Expense il First interest payment. Change b. Journalize bond issuance and the first two interest payments. 1. Bonds issuance. CHOSEN Discount/ Premiun Carrying Value 
4. Anortirntipi schadule iii. Second interest payment
On January 1, 2020, Kincaid Inc issued $2,000,000, 5%, 11 year bonds, with interest payable semi annually. Market interest rate on the date of issue was 6%. Issue price was $1,840,631. Prepare the amortization schedule and journalize the first two interest payments. Round off to the nearest dollar amount. a. Amortization Schedule Payment Interest Payment 0 1 2 3 Interest Expense il First interest payment. Change b. Journalize bond issuance and the first two interest payments. 1. Bonds issuance. CHOSEN Discount/ Premiun Carrying Value
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The Power Of Accounting What The Numbers Mean And How To Use Them
Authors: Lawrence Lewis
1st Edition
0415884306, 978-0415884303
