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On January 1, 2024, Oriole Satellites Ltd. issued $1.48-million, 10-year bonds. The bonds pay semi-annual interest on July 1 and January 1, and Oriole has
On January 1, 2024, Oriole Satellites Ltd. issued $1.48-million, 10-year bonds. The bonds pay semi-annual interest on July 1 and January 1, and Oriole has a December 31 year end. A partial bond amortization schedule is presented below: Semi-Annual Interest Period Interest Interest Payment Expense Amortization Carrying Amount of Bonds Jan. 1, 2024 $1,364,640 July 1, 2024 $[1] $ [2] $4,516 1,369,156 Jan. 1, 2025 29,600 34,229 4,629 1,373,785 July 1, 2025 29,600 34,345 [3] 1,378,530 Jan. 1, 2026 29,600 34,463 [4] [5] July 1, 2026 29,600 34,585 4,985 1,388,378 Jan. 1, 2027 29,600 34,709 5,109 1,393,487 (a) Fill in the missing amounts for items [1] through [5]. Semi- Annual Interest Period Interest Payment Jan. 1, 2024 July 1, $ [1] 2024 Jan. 1, 2025 29,600 July 1, 29,600 2025 Interest Expense Amortization $ [2] 34,229 34,345 [3] $4,516 4,629 Jan. 1, 2026 29,600 34,463 [4] July 1, 29,600 34,585 4,985 2026 Jan. 1, 2027 29,600 34,709 5,109 [5]
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