ABC Corp. issued $8,000,000 of 8% debentures on January 1, 2023. The bonds pay interest semiannually on July 1 and January 1. The maturity date on these bonds is January 1, 2031. The firm uses the effective-interest method of amortizing discounts and premiums. The bonds were sold to yield an effective interest rate of

10%.

REQUIRED;

PREPARE THE ANORTIZATION TABLE

PREPARE THE JOURNAL ENTRY

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Ex. 4- Bonds and amortization table -Homework problem: ABC Corp. issued $8,000,000 of 8% debentures on January 1, 2023. The bonds pay interest semiannually on July 1 and January 1. The maturity date on these bonds is January 1, 2031. The firm uses the effective-interest method of amortizing discounts and premiums. The bonds were sold to yield an effective interest rate of 10%. Required: Prepare the amortization table. During the test, I will provide additional instructions. Ex. 4- Bonds and amortization table -Homework problem: ABC Corp. issued $8,000,000 of 8% debentures on January 1, 2023. The bonds pay interest semiannually on July 1 and January 1. The maturity date on these bonds is January 1, 2031. The firm uses the effective-interest method of amortizing discounts and premiums. The bonds were sold to yield an effective interest rate of 10%. Required: Prepare the amortization table. During the test, I will provide additional instructions.