On January 1,2025 , Swifty Corporation issued $1,810,000 face value, 6%,10-year bonds at $1,682,873. This...
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On January 1,2025 , Swifty Corporation issued $1,810,000 face value, 6%,10-year bonds at $1,682,873. This price resulted in an effective-interest rate of 7% on the bonds. Swifty uses the effective-interest method to amortize bond premium or discount. The bonds pay annual interest January 1. (a) Prepare the journal entry to record the issuance of the bonds on January 1, 2025. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Prepare an amortization table through December 31,2027 (three interest periods), for this bond issue. (Round answers to 0 decimal places, e.g. 125.) eTextbook and Media List of Accounts Last saved 1 day ago. Attempts: 0 of 3 used Saved work will be auto-submitted on the due date. Auto-submission can take up to 10 minutes
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