On January 1, 2021, Distel Company borrowed $102,700 by issuing 3-year, 9% bonds with a face amount

Question:

On January 1, 2021, Distel Company borrowed $102,700 by issuing 3-year, 9% bonds with a face amount of $100,000. Interest is paid annually on December 31.

Required:

Prepare an amortization table using the following column headings:

Period

Cash Payment (Credit)

Interest Expense (Debit)

Premium on Bonds Payable (Debit)

Premium on Bonds Payable Balance

Carrying Value

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