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[answered] Bonds payable are dated January 1, 2014, and are issued on


Bonds payable are dated January 1, 2014, and are issued on that date.
The face value of the bonds is $200,000, and the face rate of interest
is 14%. The bonds pay interest semiannually. The bonds will mature in
five years. The market rate of interest at the time of issuance was 12%.

a. Using the effective interest amortization method,
what amount should be amortized for the first six-month period? What
amount of interest expense should be reported for the first six-month
period? Round your answers to the nearest cent.

b.? Using the effective interest amortization method,

what amount should be amortized for the period from July 1 to December

31, 2014? What amount of interest expense should be reported for the

period from July 1 to December 31, 2014? Round your answers to the

nearest cent.

Amount amortized$

Amount of interest expense$

2.) Issue Price:


Bonds payable are dated January 1, 2014, and are issued on that date. The face value of the bonds is $200,000, and the face ra

 

years. The market rate of interest at the time of issuance was 12%. a....

 


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