Question: Cornerstone Exercise 9-35 Bonds Issued at a Premium (Effective Interest) Charger Battery issued $100,000 of 11%, seven-year bonds on December 31, 2022, for $104,868. Interest

Cornerstone Exercise 9-35 Bonds Issued at a Premium (Effective Interest) Charger

Cornerstone Exercise 9-35 Bonds Issued at a Premium (Effective Interest) Charger Battery issued $100,000 of 11%, seven-year bonds on December 31, 2022, for $104,868. Interest is paid annually on December 31. The market rate of interest is 10%. Required: Prepare the amortization table using the effective interest rate method. For those boxes in which no entry is required, leave the box blank. If the amount is zero, enter "0". If required, round your answers to the nearest whole dollar. Charger Battery Amortization Table Period Cash Payment (Credit) Interest Expense (Debit) Premium on Bonds Payable (Debit) Premium on Bonds Payable Balance (Credit) Bond Payable Carrying Value (Credit) At issue 12/31/23 12/31/24 12/31/25 12/31/26 12/31/27 12/31/28 12/31/29

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