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Oriole Ltd. issued $1.06 million of 5-year, 4% bonds dated May 1, 2021, for $1,108,878 when the market interest rate was 3%. Interest is paid
Oriole Ltd. issued $1.06 million of 5-year, 4% bonds dated May 1, 2021, for $1,108,878 when the market interest rate was 3%. Interest is paid semi-annually on May 1 and November 1. Prepare an amortization schedule for the first three interest payments. (Round answers to 0 decimal places, e.g. 5,275.)
ORIOLE LTD. Bond Premium Amortization Table Effective Interest MethodSemi-Annual Interest Payments 4% Bonds Issued at market rate of 3% | ||||||||
Date | Interest Payment | Interest Expense | Premium Amortization | Bond Amortized Cost | ||||
May 1, 2021 | $ | $ | $ | $ | ||||
Nov. 1, 2021 | ||||||||
May 1, 2022 | ||||||||
Nov. 1, 2022 |
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