Question
On January 1, 2021, ABC Company issued $20,000,000 of 20-year, 10.25% bonds when the market rate of interest was 11.5%. Interest is paid semi-annually on
On January 1, 2021, ABC Company issued $20,000,000 of 20-year, 10.25% bonds when the market rate of interest was 11.5%. Interest is paid semi-annually on June 30 and December 31. Requirements 1.Using Excel and the effective interest method of bond amortization, prepare an amortization table for the entire life of the bond issue. Every cell in the amortization table should include the calculation you did to get the number. You should NOT calculate anything using a calculator and then enter the number. Part of this exercise is to learn to enter formulas. 2. Prepare ALL journal entries for the following dates: January 1, 2021 June 30, 2021 December 31, 2040
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