Question: Using a Discount Amortization Table (Straight Line) Panamint Candy Company prepared the following amortization table for $500,000 of 5 -year, 9.2% bonds issued and sold

Using a Discount Amortization Table (Straight Line) Panamint Candy Company prepared

Using a Discount Amortization Table (Straight Line) Panamint Candy Company prepared the following amortization table for $500,000 of 5 -year, 9.2% bonds issued and sold by Panamint on January 1,2025 , for $472,000 : equired: 1. Prepare the entry to recognize the sale of the bonds on January 1,2025 . If an amount box does not require an entry, leave it blank. 2025Jar 2. Prepare the entry to recognize the first interest payment on June 30,2025 . If an amount box does not require an entry, leave it blank. 2025 June 30 3. Determine the interest expense for these bonds that Panamint will report on its 2027 income statement. 13 Feedback 7 Check My Work 3. Any premium or discount is amortized to interest expense over the life of the loan. 4. Indicate how these bonds will appear in Panamint's December 31,2028 , balance sheet

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