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Universal Autoparts Inc. issued $180,000 of 9%, 10-year bonds at a price of 86 on January 31, 2020. The market interest rate at the date
Universal Autoparts Inc. issued $180,000 of 9%, 10-year bonds at a price of 86 on January 31, 2020. The market interest rate at the date of issuance was 11% 1. Prepare an effective interest amortization table for the bonds through the first three interest payments. 2. Record Universal's issuance of the bonds on January 31, 2020, and payment of the first semi-annual interest amount and amortization of the bonds on July 3 1. Prepare an effective-Interest amortization table for the bonds through the first three interest payments (Round your answers to the nearest whole dollar) Universal Autoparts Amortization Table B E D Bond Semi-annual Interest Payment (4 5% of Maturity Value) Interest Expense (5.5% of Preceding Bond Carrying Amount) Bond Discount Amortization (BA) Bond Discount Account Balance (Preceding DC Carrying Amount ($180,000 D) Interest Date Jan 31, 2020 wate at the date of issuance was 11%, and the standard bonds pay interest semi-annually. and amortization of the bonds on July 31, 2020 Explanations are not required nswers to the nearest whole dollar.) int
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