Question: Brief Exercise 15-13 Presented below is the partial bond discount amortization schedule for Gomez Corp, Gomez uses the effective interest method of amortization Interest Expense
Brief Exercise 15-13 Presented below is the partial bond discount amortization schedule for Gomez Corp, Gomez uses the effective interest method of amortization Interest Expense to Be Discount Unamortized Interest Periods Interest to Be Pald Recorded Amortization Bond Carrying Value Discount Issue date $84.940 $2,115,060 1 $99,000 $105,753 $6,753 78,187 2,121,813 2 99,000 106,091 7,091 71,096 2.128,904 (a) Prepare the journal entry to record the payment of interest and the discount amortization at the end of period 1. (Credit account titles are automatically indented when amon entered. Do not indent manually.) Account Titles and Explanation Debit Credit
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