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Quatro Company issues bonds dated January 1, 2021, with a par value of $890,000. The bonds' annual contract rate is 12%, and interest is

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Quatro Company issues bonds dated January 1, 2021, with a par value of $890,000. The bonds' annual contract rate is 12%, and interest is paid semiannually on June 30 and December 31. The bonds mature in three years. The annual market rate at the date of issuance is 10%, and the bonds are sold for $935,160. 1. What is the amount of the premium on these bonds at issuance? 2. How much total bond interest expense will be recognized over the life of these bonds? 3. Prepare an effective interest amortization table for these bonds Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare an effective interest amortization table for these bonds. Note: Round all amounts to the nearest whole dollar. Semiannual Interest Period-End Cash Interest Bond Interest Paid Expense Premium Amortization Unamortized Premium Carrying Value 01/01/2021 06/30/2021 $ 53,400 $ 46,758 $ 6,642 12/31/2021 53,400 46,426 6,974 06/30/2022 53,400 46,077 7,323 12/31/2022 53,400 45,711 7,689 06/30/2023 53,400 45,327 8,073 12/31/2023 53,400 53,400 Total 320,400 $ 320,400

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