Question: Problem 10-10A (Part Level Submission) On July 1, 2017, Global Satellites Corporation issued $1,790,000 of 10-year, 8% bonds to yield a market interest rate of

Problem 10-10A (Part Level Submission) On July 1, 2017, Global Satellites

Problem 10-10A (Part Level Submission) On July 1, 2017, Global Satellites Corporation issued $1,790,000 of 10-year, 8% bonds to yield a market interest rate of 7%. The bonds pay semi-annual interest on July 1 and January 1. Global has a December 31 year end. When the bonds were issued, Global received $1,917,208 Click here to view the factor table. (a) Prepare an amortization table through January 1, 2019 (three interest periods) for this bond issue. (Round all amounts to the nearest dollar, e.g. 5,275.) GLOBAL SATELLITES CORPORATION Bond Premium Amortization Interest Expense to be Semi-annual interest periods Interest to be paid Premium Amortization Recorded Unamortized Bond Carrying Premium Amount July 1/17 Jan. 1/18 $ $ July 1/18 Jan. 1/19 July 1/19

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