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Required information Exercise 10-7 (Algo) Straight-Line: Amortization table and bond interest expense LO P2 [The following information applies to the questions displayed below.] Duval Company
Required information Exercise 10-7 (Algo) Straight-Line: Amortization table and bond interest expense LO P2 [The following information applies to the questions displayed below.] Duval Company issues four-year bonds with a $115,000 par value on January 1,2021 , at a price of $110,888. The annual contract rate is 7%, and interest is paid semiannually on June 30 and December 31 . Exercise 10-7 (Algo) Part 1 1. Prepare a straight-line amortization table for these bonds. (Round your answers to the nearest dollar amount.) Journal entry worksheet Record the interest payment and discount amortization on June 30,2021. Note: Enter debits before credits. Journal entry worksheet 1 Record the interest payment and discount amortization on December 31 , 2021. Note: Enter debits before credits. Journal entry worksheet Record the entry for payment of the bonds at maturity. (Assume semiannual interest is already recorded). Note: Enter debits before credits. Required information Exercise 10-7 (Algo) Straight-Line: Amortization table and bond interest expense LO P2 [The following information applies to the questions displayed below.] Duval Company issues four-year bonds with a $115,000 par value on January 1,2021 , at a price of $110,888. The annual contract rate is 7%, and interest is paid semiannually on June 30 and December 31 . Exercise 10-7 (Algo) Part 1 1. Prepare a straight-line amortization table for these bonds. (Round your answers to the nearest dollar amount.) Journal entry worksheet Record the interest payment and discount amortization on June 30,2021. Note: Enter debits before credits. Journal entry worksheet 1 Record the interest payment and discount amortization on December 31 , 2021. Note: Enter debits before credits. Journal entry worksheet Record the entry for payment of the bonds at maturity. (Assume semiannual interest is already recorded). Note: Enter debits before credits
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