On June 1, 2018, Ken Company sold $200,000 in long-term bonds for $175,520. The bonds have a stated interest rate of 8% and a yield of 10%. Maturity of the bonds is 10 II. years and payment of interest is annually, on May 31 of each year. www Required: a. Construct a bond amortization table for the first four years. b. Prepare the adjusting entry to be recorded on December 31, 2020.

On June 1, 2018, Ken Company sold $200,000 in long-term bonds for $175,520. The bonds have a stated interest rate of 8% and a yield of 10%. Maturity of the bonds is 10 II. years and payment of interest is annually, on May 31 of each year. www Required: a. Construct a bond amortization table for the first four years. b. Prepare the adjusting entry to be recorded on December 31, 2020.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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please use P*R*T fomular as well. Thanks
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