On January 1, when the market interest rate was 8 percent, Seton Corporation completed a...
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Accounting
On January 1, when the market interest rate was 8 percent, Seton Corporation completed a $190,000, 7 percent bond issue for $177,252. The bonds pay interest each December 31 and mature in 10 years. Assume Seton Corporation uses the effective-interest method to amortize the bond discount.
Hep JOV Required information The following information applies to the questions displayed below] On January 1, when the market interest rate was 8 percent, Seton Corporation completed a $190,000, 7 percent bond issue for $177,252. The bonds pay interest each December 31 and mature in 10 years. Assume Seton Corporation uses the effective interest method to amortize the bond discount. 3. Prepare a bond discount amortization schedule for these bonds. (Do not round intermediate calculations. Round your answers to the nearest dollar.) Ending Bond Liability Balances Changes During the Period Interest Cast Polda Discount Expense Amortized Parled Ended Bonds Payable Beds Payable Discount on Carrying Value 14.100 Yr 1 EndD 13300 190.000 190,000 30 11 258 178132 VERA
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