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On January $1,2023.$ Blossom Corporation purchased a newly issued $\backslash (\backslash$$ $1,050,000\backslash )$ bond. The bond matured on December $31,2025.$ and paid interest at $\backslash (6\backslash \%\backslash )$ every June $30$ and December $31.$ The market interest rate was $\backslash (8\backslash \%\backslash ).$ Blossom's fiscal year$-$end is October $31,$ and the company had the intention and ability to hold the bond untili its maturity date. The bond will beaccounted using the amortized cost model.

Clickhere to view Table A$\mathrm{.}2-$ PRESENT VALUE OF $1-($PRESENT VALUE OF A SINGLESUM$)$ Click here to view TableA$\mathrm{.}4-$ PRESENT VALUE OF ANORDINARY ANNUITY OF $1$

$($a$)$

Your Answer Correct Answer $($Used$)$

Calculate the price paid for the bond using a financial calculator or Excel functions. $($Round answers to $2$ decimal places, e$.$g$\mathrm{.}52\mathrm{.}75.)$

PV

$($b$)$

Prepare an amortization schedule for the bond. $($Round answers to $2$ decimal places, e$.$g$.52\mathrm{.}75.)$ View Pollices

Show Attempt Histony

Current Attempt in Progress

On January $1,2023,$ Blossom Corporation purchased a newly issued $\backslash (\backslash$$ $1,050,000\backslash )$ bond. The bond matured on December $31,2025,$ and paid interestat $\backslash (6\backslash \%\backslash )$ every June $30$ and December $31.$ The market interest rate was $\backslash (8\backslash \%\backslash ).$ Blossom's fiscal year$-$end is October $31,$ and the compeny had the intention and ability to hold the bond untili its maturity date. The bond will be accounted using the amortized cost model.

Click here to view Table A$\mathrm{.}2-$PRESENT VALUE OF $1-($PRESENT VALUE OF A$.$ SINGLE SUM$)$

Click here to view Table A$\mathrm{.}4-$PRESENT VALUE OF ANORDINARY ANNUITY OF $1$

$($a$)$

Your Answer Correct Answer $($Used$)$

Calculate the price paid for the bond using a financial calculator or Excel functions. $($Round answers to $2$ decimal places, eg$.52\mathrm{.}75.)$

PV $\backslash$&

$($b$)$

Prepare an amortization schedule for the bond. $($Round answers to $2$ decimal places, eg$.5275)$