On January Kirmer Corp. purchased $ of bonds, interest payable on January and July for $a effective interest rate The bonds mature on January Record amortization and interest revenue on the appropriate dates by the effectiveinterest method round the carry amount to the nearest dollar and PV factor to the fifth decimal pointAssume bonds are nontrading.Requireda Show how $ is decided and prepare the amortization schedule.b The bonds are sold on October for $ plus accrued interest. Prepare all entries required to properly record the sale.

Answer rating: 100% (QA)

a Amortization Schedule Date PurchaseCarry Amount Interest Revenue PV Factor Interest Expen... View the full answer