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On January 1, 2020, Oriole Company purchased 12% bonds having a maturity value of $270,000, for $290,470.00. The bonds provide the bondholders with a 10%
On January 1, 2020, Oriole Company purchased 12% bonds having a maturity value of $270,000, for $290,470.00. The bonds provide the bondholders with a 10% yield. They are dated January 1, 2020, and mature January 1, 2025, with interest received on January 1 of each year. Oriole Company uses the effective-interest method to allocate unamortized discount or premium. The bonds are classified in the held-to-maturity category. Prepare a bond amortization schedule. (Round answers to 2 decimal places, eg. 2,525.25.) Schedule of Interest Revenue and Bond Premium Amortization Effective-Interest Method Cash Received Interest Revenue Premium Amortized Carrying Amo of Bonds Date $ $ 1/1/20 $ 1/1/21 1/1/22 1/1/23 1/1/24 1/1/25 Prepare a bond amortization schedule. (Round answers to 2 decimal places, eg. 2,525.25.) Schedule of Interest Revenue and Bond Premium Amortization Effective-Interest Method Carrying Amount of Bonds Cash Received Premium Amortized Interest Revenue $ $ $
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