Shamrock Company sells 8% bonds having a maturity value of $1,580,000 for $1,460,210. The bonds...
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Shamrock Company sells 8% bonds having a maturity value of $1,580,000 for $1,460,210. The bonds are dated January 1, 2020, and mature January 1, 2025. Interest is payable annually on January 1. (a) Your answer is correct. Determine the effective-interest rate. (Round answer to O decimal places, e.g. 18%.) The effective-interest rate 10 % e Textbook and Media Solution Attempts: unlimited Set up a schedule of interest expense and discount amortization under the effective-interest method. (Round intermediate calculations to 5 decimal places, e.g. 1.25124 and final answer to 0 decimal places, e.g. 38,548.) Schedule of Discount Amortization Effective-Interest Method Interest Discount Expense Amortized Interest Payable Carrying Amount of Bonds $ 0 $ 0 0 $ 126400 126400 126400 126400 126400
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