James Smith Company sells 8% bonds having a maturity value of $2,000,000 for $1,848,366.00. The bonds...
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James Smith Company sells 8% bonds having a maturity value of $2,000,000 for $1,848,366.00. The bonds are dated January 1, 2025, and mature January 1, 2030. Interest is payable annually on January 1. Click here to view factor tables. Determine the effective-interest rate. (Round present value factor to 5 decimal places, e.g. 1.25124 and final answer to O decimal places, e.g. 18%.) The effective-interest rate eTextbook and Media % 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 2 decimal places, e.g. 38,548.25.) Schedule of Discount Amortization Effective-Interest Method Cash Interest Discount Year Paid Expense Amortized Vali Jan. 1, 2025 Dec. 31, 2025 Dec. 31, 2026 Dec. 31, 2027 Dec. 31, 2028 Dec. 31, 2029 James Smith Company sells 8% bonds having a maturity value of $2,000,000 for $1,848,366.00. The bonds are dated January 1, 2025, and mature January 1, 2030. Interest is payable annually on January 1. Click here to view factor tables. Determine the effective-interest rate. (Round present value factor to 5 decimal places, e.g. 1.25124 and final answer to O decimal places, e.g. 18%.) The effective-interest rate eTextbook and Media % 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 2 decimal places, e.g. 38,548.25.) Schedule of Discount Amortization Effective-Interest Method Cash Interest Discount Year Paid Expense Amortized Vali Jan. 1, 2025 Dec. 31, 2025 Dec. 31, 2026 Dec. 31, 2027 Dec. 31, 2028 Dec. 31, 2029
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