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payable annually on January 1. Instructions Set up a schedule of interest expense...

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Accounting

payable annually on January 1.
Instructions
Set up a schedule of interest expense and discount amortization under the straight-line method. (Round answers to the nearest cent.)
E13.7(LO 1)(Amortization Schedule-Effective-Interest) Assume the same information as in E13.6.
Instructions
Set up a schedule of interest expense and discount amortization under the effective-interest method. (Hint. The effective-interest rate must be computed.)
*Just need 13.7 answered. Please use a 12% effectice rate*
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