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Make an effective interest amortization table

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Reference no: EM132593726

Question - Effective interest

Corp issued $100,000 of 5%, 5 year bonds payable on 1/1/19 for $104,452.

The bonds pay interest annually on 1/1. On the date of issuance the market rate of interest was 4%. Corp uses straight-line amortization of discounts and premiums.

Make an effective interest amortization table through 1/1/21.Include appropriate titles in your table.

Record the entry for the issuance of the bonds.

Record the accrual of interest on 12/31/19.

Record the interest payment on 1/1/20.

Reference no: EM132593726

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