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Unger Autoparts Inc. issued $110,000 of 6%, 10-year bonds at a price of 83 on January 31, 2020. The market interest rate at the date
Unger Autoparts Inc. issued $110,000 of 6%, 10-year bonds at a price of 83 on January 31, 2020. The market interest rate at the date of issuance was 11% and the standard bonds pay interests annual 1. Prepare an effective interest amortization table for the bonds through the first three interest pas 2. Record Unger's issuance of the bonds on January 31, 2020. and payment of the first sem annuleres amount and amortization of the bonds on July 31, 2020. Explanations are not required 1. Prepare an effective-best amortization table for the bonds through the first three interest payments (Round your answers to the nearest whole dollar) Unger Autoparte Amortization Table Bond Discount Amortization Soman In De rest Expre 5.5% of Preceding Bond Carrying Antun) 0 Maurity Value) Bond Decount Acoount Carrying Amount Preceding Dic) $110.000 (0-A Jan 31, 2020 My 31, 2020 Jan 31, 2021 July 31, 2001 2. Record Unger's issuance of the band on January 31, 2020, and payment of the fustanin mount and notion of the bonds on duy 31.2020. (Record debits first, then credits Explanations are not required) Start by recording the one of bonds on January 31, 2020 Journal Entry Accounts Debit Credit san 3 Now, record the payment of the first semi-annual interest amount and amortization of the bonds on July 31, 2020. Journal Entry 2020 Accounts Debit Credit July 31 Choose from any list or enter any number in the input fields and then continue to the next
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