On 1st february 2013 cromley motor products issued 6 bonds

Reference no: EM13370794

On 1^st February, 2013, Cromley Motor Products issued 6% bonds, dated 1^st February, with a face amount of $75 million. The bonds mature on 31^st January, 2017 (4 years). The market yield for bonds of similar risk and maturity was 8 percent. Interest is paid semiannually on July 31 and January 31. Barnwell Industries acquired $75,000 of bonds as a long-term investment. The fiscal years of both firms end December 31.
Arrange amortization schedules that indicate Cromley's effective interest expense for each interest period during term to maturity.
Organize amortization schedules that designate Barnwell's effective interest revenue for every interest period during the term to maturity.

Reference no: EM13370794

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