Question: show me how to get the effective rate will be better Current Attempt in Progress On May 1, 2021, Sandhill Corp. issued $940,000 of 5-year,


show me how to get the effective rate will be better
Current Attempt in Progress On May 1, 2021, Sandhill Corp. issued $940,000 of 5-year, 7% bonds at 95. The bonds pay interest annually on May 1. Sandhill's year end is April 30. Record the issue of the bonds on May 1, 2021. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter Ofor the amounts.) Date Account Titles and Explanation Debit Credit May 1 Cash 893000 Bonds Payable 893000 Calculate the effective rate of the bonds using Excel or a financial calculator. (Round answer to 4 decimal places, e.g. 1.5751.) Effective rate % Prepare an effective interest amortization table for this bond. (Round answers to O decimal places, e.g. 5,276.) Sandhill CORP. Bond Discount Amortization Table Effective Interest Method Annual Interest Payments Interest Expense Discount Amortization Interest Payment Bond Amortized Cost $ $ 893000 65800 65800 65800 65800 65800
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