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On January 1, 2020, Tamarisk Company sold 11% bonds having a maturity value of $800,000 for $830,326, which provides the bondholders with a 10% yield.
On January 1, 2020, Tamarisk Company sold 11% bonds having a maturity value of $800,000 for $830,326, which provides the bondholders with a 10% yield. The bonds are dated January 1, 2020, and mature January 1, 2025, with interest payable December 31 of each year. Tamarisk Company allocates interest and unamortized discount or premium on the effective-interest basis.
Prepare a schedule of interest expense and bond amortization for 20202022. (Round answer to 0 decimal places, e.g. 38,548.)
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