Gilmartin Corporation issued $450,000 of 6%, 10-year bonds payable on January 1, 2019. The market...
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Gilmartin Corporation issued $450,000 of 6%, 10-year bonds payable on January 1, 2019. The market interest rate at the date of issuance was 4%, and the bonds pay interest semiannually (on June 30 and December 31). Gilmartin Corporation's year-end is June 30 Read the requirements 1. Using the PV function in Excel, calculate the issue price of the bonds. (Round your answer to the nearest whole dollar.) 523,581 The issue price of the bonds is $ 2. Prepare an effective-interest amortization table for the bond through the first three interest payments. Round amounts to the nearest dollar. Premium Bond Semiannual Carrying Interest Interest Premium Account Interest Date Amortization Payment Expense Balance Amount Jan 1, 2019
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