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S7-9 (similar to) Question Help General Autoparts Inc. issued $120,000 of 7%, 10-year bonds at a price of 83 on January 31, 2020. The market
S7-9 (similar to) Question Help General Autoparts Inc. issued $120,000 of 7%, 10-year bonds at a price of 83 on January 31, 2020. The market interest rate at the date issuance was 9%, and the standard bonds pay interest semi-annually 1. Prepare an effective-interest amortization table for the bonds through the first three interest payments. 2. Record General's issuance of the bonds on January 31, 2020, and payment of the first semi-annual interest amount and amortization of the bonds on July 31, 2020. Explanations are not required 1. Prepare an effective-interest amortization table for the bonds through the first three interest payments (Round your answers to the nearest whole dollar.) General Autoparts Amortization Table C B D E Interest Payment Semi-annual (3.5% of Interest Date Maturity Value) Jan 31, 2020 Interest Expense (4.5% of Preceding Bond Carrying Amount) Bond Discount Amortization (B-A) Bond Discount Account Balance (Preceding D-C) Bond Carrying Amount ($120,000-D) ? Enter any number in the edit fields and then click Check Answer Check Ang
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