Question
On June 1, 2023, JetCom Inventors Inc. issued a $520,000 11%, three-year bond. Interest is to be paid semiannually beginning December 1, 2023. Required: a.
On June 1, 2023, JetCom Inventors Inc. issued a $520,000 11%, three-year bond. Interest is to be paid semiannually beginning December 1, 2023.
Required: a. Calculate the issue price of the bond assuming a market interest rate of 12%. (Do not round intermediate calculations. Round the final answer to the nearest whole dollar.) ISSUE PRICE OF THE BOND : ??? b. Using the effective interest method, prepare an amortization schedule. (Do not round intermediate calculations. Round the final answers to the nearest whole dollar. Enter all the amounts as positive values. period ending:/CASH INT PAID/PERI INTEREST EXP/DISC AMORT/UNAMORTI DISC/CARRYING VALUE???? A. JUNE 1/23 B. DEC 1/23 C. JUNE 1/24 D.DEC 1/24 E. JUNE 1/25. F. DEC 1/25 G. JUNE 1/26
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