Question: Intermediate Accounting - ACT240 Project - Deliverable 2 - Version 4 Spring 2019 Prepare the Schedule of Bond Discount Amortization for the Bonds issued by

Intermediate Accounting - "ACT240" Project - Deliverable 2 - Version 4

Intermediate Accounting - "ACT240" Project - Deliverable 2 - Version 4 Spring 2019 Prepare the Schedule of Bond Discount Amortization for the Bonds issued by FITNESS Group Company as per the 2018 Balance Sheet (using the Effective-Interest Method) The following data is available: 1. The face value of the bond is $95,000 2. The bond was issued at 4% with interest paid at year-end for 10 years. 3. The current market rate is 7% for bonds of similar risk. 4. The PV of the principal is equal to $48.293 and the PV of the interest is $26.690

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