12-13: On January 1, 2018, Splash City issues $370,000 of 9% bonds, due in 20...
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Accounting
12-13:
On January 1, 2018, Splash City issues $370,000 of 9% bonds, due in 20 years, with interest payable semiannually on June 30 and December 31 each year. Assuming the market interest rate on the issue date is 8%, the bonds will issue at $406,617.
Required: 1. Complete the first three rows of an amortization table.
2. Record the bond issue on January 1, 2018, and the first two semiannual interest payments on June 30, 2018, and December 31, 2018.(If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)
value 10.00 polnts Required: 1. Complete the first three rows of an amortization table. Date Cash Paid Interest Decrease in Carrying Value alue 6/30/18 12/31/18
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