On January 1, 2015, Ripstick Park issues $800,000 of 8% bonds, due in ten years, with interest

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On January 1, 2015, Ripstick Park issues $800,000 of 8% bonds, due in ten years, with interest payable semiannually on June 30 and December 31 each year. Assuming the market interest rate on the issue date is 9%, the bonds will issue at $747,968.

1.	Complete the first three rows of an amortization table.

Date	Cash Paid	Interest Expense	Increase in Carrying Value	Carrying Value
1/1/15				$
6/30/15	$	$	$
12/31/15

2.	Record the bond issue on January 1, 2015, and the first two semi-annual interest payments on June 30, 2015, and December 31, 2015.

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Financial Accounting

ISBN: 978-0078025549

3rd edition

Authors: J. David Spiceland, Wayne Thomas, Don Herrmann

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Posted Date: Jan 10, 2021 11:27 PM

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On January 1, 2015, Ripstick Park issues $800,000 of 8% bonds, due in ten years, with interest

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Date Cash Interest Increase in Carrying Paid Expense Carrying Value Va... View the full answer

Financial Accounting

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