Question: i just need help finding the cash interest received for july 1 2020 Following are the non-strategic investment transactions of Corona Inc. 2020 Jan. 1

i just need help finding the cash interest received for july 1 2020

Following are the non-strategic investment transactions of Corona Inc. 2020 Jan. 1 Purchased for $78, 141 an 8%, $75, 000 bond that matures in 10 years from Hanna Corporation when the market interest rate was 7.4%. Interest is paid semiannually beginning June 30, 2020. June 30 Received interest on the Hanna bond. July 1 Paid $118,047 for a Trust Inc. bond with a par value of $120,060 and a five-year term. The bond pays interest quarterly beginning September 30, 2020, at the annual rate of 7. 8%; the market interest rate on the date of purchase was 8. 2%. Sept. 30 Received interest on the Trust bond. Dec. 31 Received interest on the Hanna and Trust bonds. 31 The fair values of the bonds on this date equalled the fair values, Required: 1. For each of the bond investments, prepare an amortization schedule showing only 2020 and 2021. (Round your intermediate and final answers to the nearest whole dollar amount. Enter all the amounts as positive values.) Partial Amortization Schedule - Hanna Bond: Period Ending Cash Interest Period Interest Premium Unamortized Received Income Amort. Premium Carrying Value Jan. 1/20 3 141 5 78,141 June 30/20 3 000 2 891 109 3 032 78.032 Dec. 31/20 3 000 2 887 2919 77.919 June 30/21 3 000 2 883 2 802 77 802 Dec. 31/21 2 879 2.681 77.681
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
