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*Problem 10-6A (Part Level Submission) On July 1, 2015, Flanagin Corporation issued $1,995,000, 12%, 10-year bonds at $2,243,622. This price resulted in an effective-interest rate
*Problem 10-6A (Part Level Submission) On July 1, 2015, Flanagin Corporation issued $1,995,000, 12%, 10-year bonds at $2,243,622. This price resulted in an effective-interest rate of 10% on the bonds. Flanagin uses the effective-interest method to amortize bond premium or discount. The bonds pay semiannual interest July 1 and January 1. Your answer is correct. Prepare the joumal entry to record the issuance of the bonds on July 1, 2015. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation DebitCredit July 1, 2015Cash 224362 248622 remium on Bonds Payabl ornds Payabl 199500 Attempts: 2 of 5 used Prepare an ortization table through Dece ber 31, 2016 (3 interest periods), for this bond issue. (Round answers to 0 decimal places, eg, 15,250.) FLANAGIN CORPORATION Bond Premium Amortization Effective-Interest Method-Semiannual Interest Payments emiannual Interest Periods Interest to Be Paid Interest Expense remium Amortizati namortized Premium Bond Carrying Value Issue date Attempts: 0 of 5 used The parts of this questlon must be completed in order. This part will be available when you complete the part above. The parts of this question must be completed in order. This part will be available when you complete the part above The parts of this questlon must be completed in order. This part will be available when you complete the part above
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