On january 1 2012 morgans motors issued 500000 of 3-year 8

Reference no: EM13591138

On January 1, 2012 Morgan's Motors issued $500,000 of 3-year, 8% bonds when the market yield was 6%. The bond agreement stated that compounding was semi-annual with payments due on June 30 and December 31.

Calculate the proceeds from the bond issue.
Prepare an amortization table for the bonds using the effective interest method

Reference no: EM13591138

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