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Solar Energy Inc. issued a $919,000, 9.0%, five-year bond on October 1, 2020. Interest is paid annually each October 1. Solar's year-end is December 31.
Solar Energy Inc. issued a $919,000, 9.0%, five-year bond on October 1, 2020. Interest is paid annually each October 1. Solar's year-end is December 31. Period Ending ook Cash Interest Paid Peri Inter Expe Fint ences Oct. 1/20 Oct. 1/21 Oct. 1/22 Oct. 1/23 Oct. 1/24 Oct. 1/25 $ 82,710 82,710 82,710 82,710 82,710 $413,550 $ 88,4 88,91 89,6 90,31 91,01 $448,31 Assume that interest has already been paid on October 1, 2023. Required: Using the amortization schedule provided above, record the entry to retire the bonds on October 1, 2023, for cash of: a. $890,500 b. $903,051 c. $905,900 Prev 3 of 9 Score answer > Solar Energy Inc. issued a $919,000, 9.0%, five-year bond on October 1, 2020. Interest is paid annually each October 1. Solar's year-end is December 31. Period Ending ook Cash Interest Paid Peri Inter Expe Fint ences Oct. 1/20 Oct. 1/21 Oct. 1/22 Oct. 1/23 Oct. 1/24 Oct. 1/25 $ 82,710 82,710 82,710 82,710 82,710 $413,550 $ 88,4 88,91 89,6 90,31 91,01 $448,31 Assume that interest has already been paid on October 1, 2023. Required: Using the amortization schedule provided above, record the entry to retire the bonds on October 1, 2023, for cash of: a. $890,500 b. $903,051 c. $905,900 Prev 3 of 9 Score answer >
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