Question: Exercise 10-7 Straight-Line: Amortization table and bond interest expense LO P2 Duval Co. issues four-year bonds with a $100,000 par value on January 1, 2019,

Exercise 10-7 Straight-Line: Amortization table and bond interest expense LO P2 Duval Co. issues four-year bonds with a $100,000 par value on January 1, 2019, at a price of $95,952. The annual contract rate is 7%, and interest is paid semiannually on June 30 and December 31.

Exercise 10-7 Part 1

1. Prepare a straight-line amortization table for these bonds.

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