Current Attempt in Progress Sandhill Products Ltd. issued $3.22 million of 5%, 5 -year bonds...
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Current Attempt in Progress Sandhill Products Ltd. issued $3.22 million of 5%, 5 -year bonds on January 1,2024 . The bonds were dated January 1 and pay interest annually. There is no collateral secured against the bonds and Sandhill Products may buy back the bonds at any time. The market interest rate was 6% for these bonds. Sandhill has a calendar year end. Click here to view the factor table. Present Value of 1 Click here to view the factor table. Present Value of an Annuity of 1 PV=(1+i)n1 2027 Jan. 1. 2028 Jan. 1. 2029 PV=PMT(i1(1+i)n) SANDHILL PRODUCTS LTD. Bond Discount Amortization Table Effective-Interest Method-Annual Interest Payments 5% Bonds Issued at market rate of 6% Date Interest Payment Interest Expense Discount Amortization Bond Carrying Amou Jan. 1 , 2024 $ Jan. 1 , 2025 Jan. 1 , 2026 Jan. 1 , 2027
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