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accounting help w/ hw in effective interest amortization?
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<blockquote data-quote="Bella" data-source="post: 2401212" data-attributes="member: 208506"><p>Legacy issues $335,000 of 6%, four-year bonds dated January 1, 2009, that pay interest semiannually on June 30 and December 31. They are issued at $277,400 and their market rate is 9% at the issue date.</p><p></p><p>Requirement 1:</p><p>Prepare the January 1, 2009, journal entry to record the bonds' issuance.</p><p></p><p>Requirement 2:</p><p>Determine the total bond interest expense to be recognized over the bonds' life.</p><p></p><p>Requirement 3:</p><p>Prepare an effective interest amortization table for the bonds' first two years like the one in the link below</p><p>http://mh2.brownstone.net/web/WiFiAnMa001/Public_Html/ch10/Exhibit_10_B1.JPG</p><p></p><p>Requirement 4:</p><p>Prepare the journal entries to record the first two interest payments</p></blockquote><p></p>
[QUOTE="Bella, post: 2401212, member: 208506"] Legacy issues $335,000 of 6%, four-year bonds dated January 1, 2009, that pay interest semiannually on June 30 and December 31. They are issued at $277,400 and their market rate is 9% at the issue date. Requirement 1: Prepare the January 1, 2009, journal entry to record the bonds' issuance. Requirement 2: Determine the total bond interest expense to be recognized over the bonds' life. Requirement 3: Prepare an effective interest amortization table for the bonds' first two years like the one in the link below http://mh2.brownstone.net/web/WiFiAnMa001/Public_Html/ch10/Exhibit_10_B1.JPG Requirement 4: Prepare the journal entries to record the first two interest payments [/QUOTE]
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