Splish Co. sells $514,000 of 8% bonds on March 1, 2020. The
bonds pay interest on September 1 and March 1. The due date of the
bonds is September 1, 2023. The bonds yield 12%.
Prepare a bond amortization schedule using the effective-interest
method for discount and premium amortization. Amortize premium or
discount on interest dates and at year-end.
Solution:
Formulas used:
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