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Sunland Company issued $6,120,000 of 8% bonds on October 1, 2020, due on October 1, 2025. The interest is to be paid twice a
Sunland Company issued $6,120,000 of 8% bonds on October 1, 2020, due on October 1, 2025. The interest is to be paid twice a year on April 1 and October 1. The bonds were sold to yield 10% effective annual interest. Sunland Company closes its books annually on December 31 (a) Complete the following amortization schedule for the dates indicated. Use the effective-interest method. (Round answers to O decimal places, eg. 5.275) Date Cash Interest Expense Bond Discount Carrying Amount of Bonds October $5,647,409 1,2020 Anril 1
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