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Use the following to answer Questions 21. 22 & 23 (Calculation of Interest Paid, Interest Expense and Carrying Value) On January 1, 2021, Sparks Company
Use the following to answer Questions 21. 22 & 23 (Calculation of Interest Paid, Interest Expense and Carrying Value) On January 1, 2021, Sparks Company sold $570,000 10-year, 8% bonds for $605,000. The bonds pay interest annually on December 31st. Sparks uses the straight-line method of amortization. What is the amount of interest that Sparks must pay to bondholders in 2021? Do not enter a $ sign Use the following to answer Questions 21,22 & 23 (Calculation of Interest Paid, Interest Expense and Carrying Value) On January 1, 2021, Sparks Company sold $570,000 10-year, 8% bonds for $605,000. The bonds pay interest annually on December 31st. Sparks uses the straight-line method of amortization What is the amount of interest expense associated with these bonds that Sparks will report for the year ended December 31, 2021? Do not enter a $ sign Use the following to answer Questions 21. 22 & 23 (Calculation of Interest Paid, Interest Expense and Carrying Value) On January 1, 2021, Sparks Company sold $570,000 10-year, 8% bonds for $605,000. The bonds pay interest annually on December 31st. Sparks uses the straight-line method of amortization What is the carrying value of the bonds on December 31, 2021? Do not enter a $sign
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