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Problem 10-3A Straight-Line: Amortization of bond premium LO P3 Elis Company issues 90%, five year bonds dated January 1, 2019, with a $480,000 par value.
Problem 10-3A Straight-Line: Amortization of bond premium LO P3 Elis Company issues 90%, five year bonds dated January 1, 2019, with a $480,000 par value. The bonds pay interest on June 30 and December 31 and are issied ot a price of $499,466. The annual market rate is 8% on the issue date Required: 1. Complete the below table to calculate the total bond interest expense over the bonds' iffe 2. Prepare a staight-line amortization table for the bonds ' ife. 3. Prepare the joumal entres to record the first two interest payments Complete this question by entering your answers in the tabs below. Complete the below table to cakulate the total bond interest expense over the bonds' Iffe. Complete this question by entering your answers in the tabs below. Prepare a straight-line amortization table for the bonds' life. Journal entry worksheet Record the first interest payment on June 30. Note: Enter debits before credits. Journal entry worksheet Record the second interest payment on December 31. Note: Enter debits before credits
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