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Please show work if possible! Thank you. Oak Branch Inc. issued $700,000 of 7%, 10-year bonds when the market rate was 6%. They received $752,086.
Please show work if possible! Thank you.
Oak Branch Inc. issued $700,000 of 7%, 10-year bonds when the market rate was 6%. They received $752,086. Interest was paid semi-annually. Prepare an amortization table for the first three years of the bonds. Round intermediate and final answers to whole dollar amount. Cash Interest Payment Interest on Carrying Value Amortization of Premium Carrying Value Jan. 1, Year 1 752,086 June 30, Year 1 24,500 Dec. 31, Year 1 24,500 June 30, Year 2 24,500 Dec. 31, Year 2 24,500 June 30, Year 3 24,500 Dec. 31, Year 3 24,500Step by Step Solution
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