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? Splish Brothers Ltd. issued $740,000 of 15 -year, 8.00% bonds on January 1,2022 , when the market interest rate was 7.00%. The cash received
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Splish Brothers Ltd. issued $740,000 of 15 -year, 8.00% bonds on January 1,2022 , when the market interest rate was 7.00%. The cash received at the issuance of the bond was $808,050.57. Interest is payable semi-annually on July 1 and January 1 . Splish Brothers has a December 31 year end. Prepare a bond amortization schedule for the first four interest periods, using the effective-interest method. (Round answers to 2 decimal places,e.g. 15.75.) Record the issue of the bonds and the furst interest payment. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts. Round answers to 2 decimal places, e.8. 15.75.) Record the accrual of the interest on December 31, 2022. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Round answers to 2 decimal places, e.g. 15.75.) Show the balance sheet presentation of the bonds at December 31,2022 . (Round answers to 0 decimal places, e.g. 5,125 .) Step by Step Solution
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