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How bond would be reported on balance sheet at december

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Reference no: EM132544834

On January 1, Year 1, Kennard Co. issued $4,000,000, 5%, 10-year bonds, with interest payable on June 30 and December 31 to yield 6%. The bonds were issued for $3,702,468.

Required:

Question 1: Prepare a amortization schedule for Year 1 and Year 2 using the effective interest rate method (round amounts to nearest whole number)

Question 2: Show how this bond would be reported on the balance sheet at December 31, Year 2

Reference no: EM132544834

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