Question
Yoda Inc. issued $500,000, 10%, 5-year bonds on January 1, 2014. Interest is payable annually on December 31. Yoda uses the effective-interest method of amortization
Yoda Inc. issued $500,000, 10%, 5-year bonds on January 1, 2014. Interest is payable annually on December 31. Yoda uses the effective-interest method of amortization and has a calendar year end and the bonds were issued for a market interest rate of 8%. Prepare an amortization schedule and journal entries for the bond issue.
PLEASE EXPLAIN HOW TO DO ON A FINANCIAL CALCULATOR
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Accounting An Introduction
Authors: Eddie McLaney, Peter Atrill
3rd Edition
0273688227, 978-0273688228
