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*Please show the equation used to calculate the answers for the schedule below. For example, I will need to know how the cash received is calculated.
On January 1, 2014, Novotna Company purchased $418,600, 8% bonds of Aguirre Co. for $371,271. The bonds were purchased to yield 11% interest. Interest is payable semiannually on July 1 and January 1. The bonds mature on January 1, 2019. Novotna Company uses the effective-interest method to amortize discount or premium. On January 1, 2016, Novotna Company sold the bonds for $372,875 after receiving interest to meet its liquidity needs.
Prepare the amortization schedule for the bonds. (Round answers to 0 decimal places, e.g. 1,250.)
Schedule of Interest Revenue and Bond DiscountAmortization-Effective-Interest MethodBonds Purchased to Yield
Date
Interest ReceivableOrCash Received
InterestRevenue
BondDiscountAmortization
CarryingAmount ofBonds
$
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