On December 31, 2004, when the market interest rate is 12%, Bilton Realty issues $1,100,000 of...

Transcribed Image Text:

On December 31, 2004, when the market interest rate is 12%, Bilton Realty issues $1,100,000 of 13.25%, 10-year bonds payable. The bonds pay interest semannually Bitton Realty received $1,179,0 in cash at ance Requirements 1. Prepare an amortization table using the effective interest amortization method for the first two semannual interest periods (Round to the nearest dollar) 2. Using the amortuation tatile prepared in Requirement 1, journalize issuance of the bonds and the first two interest payments Requirement 1. Prepare an amortization table using the effective interest amortization method for the first two semiannual interest periods (Round to the nearest dollar) Interest Carrying Cash Paid Expense Amortized Amount 12/310024 06/302125 12/31/2025 On December 31, 2004, when the market interest rate is 12%, Bilton Realty issues $1,100,000 of 13.25%, 10-year bonds payable. The bonds pay interest semannually Bitton Realty received $1,179,0 in cash at ance Requirements 1. Prepare an amortization table using the effective interest amortization method for the first two semannual interest periods (Round to the nearest dollar) 2. Using the amortuation tatile prepared in Requirement 1, journalize issuance of the bonds and the first two interest payments Requirement 1. Prepare an amortization table using the effective interest amortization method for the first two semiannual interest periods (Round to the nearest dollar) Interest Carrying Cash Paid Expense Amortized Amount 12/310024 06/302125 12/31/2025