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this is all one question (schedyle if bond discount amortization and 6 journal entries) In each of the following independent cases, the company closes its
this is all one question (schedyle if bond discount amortization and 6 journal entries)
In each of the following independent cases, the company closes its books on December 31. (a) Your answer is partially correct. Sheffield Co. sells $537,000 of 8% bonds on March 1, 2020. The bonds pay interest on September 1 and March 1. The due date of the bonds is September 1, 2023. The bonds yield 12%. Give entries through December 31, 2021. 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.)
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