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On July 1 of Year 1 , West Company purchased for cash, 8 , $ 1 0 , 0 0 0 bonds of North Corporation
On July of Year West Company purchased for cash, $ bonds of North Corporation at a market rate of The bonds pay interest, payable on a semiannual basis each July and January and
mature in three years on July The bonds are classified as trading securities West Company's annual reporting period ends December Assume the effective interest method of amortization of any discounts
or premiums.
Note: When answering the following questions, round answers to the nearest whole dollar.
Amortization Schedule
Journal Entries in Year
Journal Entries in Year
a Prepare a bond amortization schedule for the life of the bonds using the effective interest method. Please answer b and c
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