Create a full bond amortization schedule

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Reference no: EM133500746

Question 1: On Jan. 1, 2018, Buddy, Inc. issued $600,000, of 10% bonds, due in 5 years. The bonds pay interest semi-annually on July 1 and January 1. The bonds effective yield 8%. Buddy uses the effective-interest method (see PV Tables next page). Prepare Buddy's journal entries for a thru c.

The January 1 issuance
The July 1 interest payment
The December 31 adjusting journal entry
Create a full Bond Amortization Schedule

Question 2: On Jan. 1, 2018, Buddy, Inc. issued $600,000 of 10% bonds, due in 5 years. The bonds pay interest semi-annually on July 1 and January 1. The bonds effective yield 12%. Buddy uses the effective-interest method (see PV Tables next page). Prepare Buddy's journal entries for a thru c.

The January 1 issuance
The July 1 interest payment
The December 31 adjusting journal entry
Create a full Bond Amortization Schedule

Reference no: EM133500746

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