Exercise 10-7 (Algo) Straight-Line: Amortization table and bond interest expense LO P2 [The following information applies to the questions displayed below] Duval Company issues four-year bonds with a $110,000 par value on January 1, 2021, at a price of $105,895. The annual contract rate is 7%, and interest is paid semiannually on June 30 and December 31, ercise 10-7 (Algo) Part 1 Prepare a straight-line amortization table for these bonds. te: Round your answers to the nearest dollar amount. Semiannual Period-End 1/01/2021 6/30/2021 12/31/2021 6/30/2022 12/31/2022 6002023 Unamortized Discount Carrying Value

FINANCIAL ACCOUNTING
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Chapter1: Financial Statements And Business Decisions
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Exercise 10-7 (Algo) Straight-Line: Amortization table and bond interest expense LO P2
[The following information applies to the questions displayed below.
Duval Company issues four-year bonds with a $110,000 par value on January 1, 2021, at a price of $105,895. The annual
contract rate is 7%, and interest is paid semiannually on June 30 and December 31,
Exercise 10-7 (Algo) Part 1
1. Prepare a straight-line amortization table for these bonds
Note: Round your answers to the nearest dollar amount.
Semiannual
Period-End
1/01/2021
6/30/2021
12/31/2021
6/30/2022
12/31/2022
6/30/2023
12/31/2023
6/30/2024
12/31/2024
Unamortized
Discount
Carrying
Value
Transcribed Image Text:Exercise 10-7 (Algo) Straight-Line: Amortization table and bond interest expense LO P2 [The following information applies to the questions displayed below. Duval Company issues four-year bonds with a $110,000 par value on January 1, 2021, at a price of $105,895. The annual contract rate is 7%, and interest is paid semiannually on June 30 and December 31, Exercise 10-7 (Algo) Part 1 1. Prepare a straight-line amortization table for these bonds Note: Round your answers to the nearest dollar amount. Semiannual Period-End 1/01/2021 6/30/2021 12/31/2021 6/30/2022 12/31/2022 6/30/2023 12/31/2023 6/30/2024 12/31/2024 Unamortized Discount Carrying Value
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