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On July 1, 2017, Global Satellites Corporation issued $1,280,000 of 10-year, 7% bonds to yield a market interest rate of 6%. The bonds pay semi
On July 1, 2017, Global Satellites Corporation issued $1,280,000 of 10-year, 7% bonds to yield a market interest rate of 6%. The bonds pay semi annual interest on July 1 and January 1. Global has a December 31 year end. When the bonds were issued, Global received $1,375,221 Click here to view the factor table. (a) Prepare an amortization table through January 1, 2019 (three interest periods) for this bond issue. (Round all amounts to the nearest dollar, e.g. 5,275.) GLOBAL SATELLITES CORPORATION Bond Premium Amortization Semi- Bond Carrying Amount Unamortized annual Interest Expense to be Interest to be paid Premium Amortization Premium interest Recorded periods $ $ July 1/17 $ $ Jan. 1/18 $ July 1/18 Jan. 1/19 July 1/19
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