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On January 1, a company purchased 3%, 10-year corporate bonds for $59,685,694 as an investment. The bonds have a face amo $65 million and
On January 1, a company purchased 3%, 10-year corporate bonds for $59,685,694 as an investment. The bonds have a face amo $65 million and are priced to yield 4%, Interest is paid semiannually. Prepare a partial amortization table at the effective interest rate on June 30 and December 31. Prepare the journal entries necessary to record revenue at the effective interest rate on June 30 and December 31. Complete this question by entering your answers in the tabs below. Amort Table General Journal Prepare a partial amortization table at the effective interest rate on June 30 and December 31. (Round your intermediate calculations to the nearest dollar amount. Enter your answers in whole dollars. Round final answers to the nearest whole dollar.) Period-End Cash Interest Received Bond Interest Revenue Discount Amortization Carrying Value January 1 $ 59,685,694 June 30 $ 975,000 December 31 975,000
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