Question: just missing interest expense Cornerstone Exercise 9-30 (Algorithmic) Debt Issued at a Premium (Straight Line) On January 1, 2020, Tron Steel issued $1,400,000, 8 year
Cornerstone Exercise 9-30 (Algorithmic) Debt Issued at a Premium (Straight Line) On January 1, 2020, Tron Steel issued $1,400,000, 8 year bonds for $1,456,000. The stated rate of interest was to% and interest is paid annually on December 31. Required: Prepare the amortization table for Tronman Steel's bonds. If required, round your answers to nearest wholt value. It an amount box does not require an entry, leave it blank and of the answer is er, entero" Ironman Steel Amortization Table Period 12/31/20 12/31/21 19.000 12/31/22 12/31/23 Cash Payment (Credit) Interest Expense (Debit) Premium on Bonds Payable (Debit) Premium on Bonds Payable Balance Carrying Value 56.000 1.456.000 140,000 x 7,000 1.449.000 140,000 7.000 42.000 1,442,000 140.000 7.000 35.000 1.435.000 140,000 X 7,000 20,000 1.420.000 140,000 x 7,000 21,000 1421,000 140,000 X 7 l 1 14.000 1.414.000 110.000 7,000 7,000 1.407,000 140,000 X 7004 1,400,000 12/31/24 12/31/25 12/31/26 12/31/27
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