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On July 1, 2021, Vaughn Satellites Corporation issued $1,100,000 of 10 -year, 9% bonds to yield a market interest rate of 8%. The bonds pay
On July 1, 2021, Vaughn Satellites Corporation issued $1,100,000 of 10 -year, 9% bonds to yield a market interest rate of 8%. The bonds pay semi-annual interest on July 1 and January 1 . Vaughn has a Decernber 31 year end and records adjusting entries annually. Vaughn received $1,174,750 when issuing the bonds. Click here to view the factor table. (a) Prepare an amortization table through January 1.2023 (three interest periods) for this bond issue. (Round all amounts to the nearest doilar, eg. 5,275.)
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