Question: Problem 9-74B Preparing a Bond Amortization Table (Straight Line) Paddington Corporation issued 5 -year, 7.8% bonds with a total face value of $800,000 on January

Problem 9-74B Preparing a Bond Amortization Table (Straight Line) Paddington Corporation

Problem 9-74B Preparing a Bond Amortization Table (Straight Line) Paddington Corporation issued 5 -year, 7.8% bonds with a total face value of $800,000 on January 1 for $740,000. The bonds pay interest on June 30 and December 31 of each year. Required: 1. Prepare an amortization table. 2. Prepare the entries to recognize the bond issuance and the interest payments made on June 30 and December 31 of Year 1

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