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Tamarisk Co. sells $430,000 of 12% bonds on June 1, 2020. The bonds pay interest on December 1 and June 1. The due date
Tamarisk Co. sells $430,000 of 12% bonds on June 1, 2020. The bonds pay interest on December 1 and June 1. The due date of the bonds is June 1, 2024. The bonds yield 10%. On October 1, 2021, Tamarisk buys back $141,900 worth of bonds for $149,900 (includes accrued interest). Give entries through December 1, 2022. Prepare a bond amortization schedule using the effective-interest method for discount and premium amortization. Amortize premium or discount on interest dates and at year-end. (Round answers to O decimal places, e.g. 38,548.) Schedule of Bond Discount Amortization Effective-Interest Method Bonds Sold to Yield Cash Interest Date Paid Expense Carrying Premium Amount c Amortized Bonds
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