Carlson Candies issued $310,000 of 8%, five-year bonds on...
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Carlson Candies issued $310,000 of 8%, five-year bonds on January 1, 2020, when the market interest rate was 12%. The company pays interest annually at year-end. The issue price of the bonds was $265,301. Requirement Create a spreadsheet model to prepare a schedule to amortize the bonds. Use the effective-interest method of amortization. Round to the nearest dollar. Requirement. Create a spreadsheet model to prepare a schedule to amortize the bonds. Use the effective interest method of amortization. (Round your final answer to the nearest dollar. For amounts with a zero balan enter a 0 where appropriate.) B Interest Payment (8% of Maturity Value) D E Interest Expense (12% of Discount Preceding Bond Carrying Amortization Discount Balance Amount) (C-B) (Preceding E-D) F Bond Carrying Amount ($310,000 - E) Date 1-1-2020 12-31-2020 $ 24.800 12-31-2021 24,800 12-31-2022 24,800 24,800 12-31-2023 12-31-2024 24.800
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