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Time remaining: [The following information applies to the questions displayed below.] Christmas Anytime issues $800,000 of 7% bonds, due in 15 years, with interest payable
Time remaining: [The following information applies to the questions displayed below.] Christmas Anytime issues $800,000 of 7% bonds, due in 15 years, with interest payable semiannually on June 30 and December 31 each year. Calculate the issue price of a bond and complete the first three rows of an amortization schedule when: Required infc Required: 1. The market interest rate is 7% and the bonds issue at face amount. (FV of $1, PV of $1, FVA of $1, and PVA of $1) (Use appropriate factor(s) from the tables provided. Do not round interest Issue price Date Cash Paid Interest Expense Increase in Carrying Value Carrying Value 01/01/18 06/30/181 12/31/18 2. The market interest rate is 8% and the bonds issue at a discount. (FV of $1, PV of $1, FVA of $1, and PVA of $1) (Use appropriate factor(s) from the tables provided. Do not round interest rate factors.) Issue price Date Cash Paid Interest Expense Increase in Carrying Value Carrying Value 01/01/18 06/30/18 12/31/18 3. The market interest rate is 6% and the bonds issue at a premium. (FV of $1, PV of $1, FVA of $1, and PVA of $1) (Use appropriate factor(s) from the tables provided. Do not round interest rate factors.) Issue price Date Cash Paid Interest Expense Decrease in Carrying Value Carrying Value 01/01/18 06/30/18 12/31/18
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