On January 1, 2017, Partridge Advertising Company issued $50,000 of six-year, 3% bonds when the market interest
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On January 1, 2017, Partridge Advertising Company issued $50,000 of six-year, 3% bonds when the market interest rate was 4%. The bonds were issued for $47,356. Partridge uses the effective-interest method of amortization for bond discount. Semiannual interest payments are made on June 30 and December 31 of each year. Prepare the amortization table for the first four interest payments. (Round your answers to the nearest dollar number.)
Date | Cash Paid | Interest Expense | Discount Amortized | Carrying Amount |
1/1/17 | | | | |
6/30/17 | | | | |
12/31/17 | | | | |
6/30/18 | | | | |
12/31/18 | | | | |
Related Book For
Financial Reporting and Analysis
ISBN: 978-0078025679
6th edition
Authors: Flawrence Revsine, Daniel Collins, Bruce, Mittelstaedt, Leon
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