Pearl Company sells 9% bonds having a maturity value of $1,610,000 for $1,435,895. The bonds are dated January 1, 2020, and mature January 1, 2025. Interest is payable annually on January 1. Set up a schedule of interest expense and discount amortization under the straight-line method. (Round answers to 0 decimal places, e.g. 38,548.) Year Jan. 1, 2020 Jan. 1, 2021 Jan. 1, 2022 Jan. 1, 2023 Jan. 1₁ 2024 Jan. 1, 2025 $ Cash Paid 11 $ Schedule of Discount Amortization Straight-Line Method Interest Expense $ Discount Amortized 111 $ Carryi Amount of

Pearl Company sells 9% bonds having a maturity value of $1,610,000 for $1,435,895. The bonds are dated January 1, 2020, and mature January 1, 2025. Interest is payable annually on January 1. Set up a schedule of interest expense and discount amortization under the straight-line method. (Round answers to 0 decimal places, e.g. 38,548.) Year Jan. 1, 2020 Jan. 1, 2021 Jan. 1, 2022 Jan. 1, 2023 Jan. 1₁ 2024 Jan. 1, 2025 $ Cash Paid 11 $ Schedule of Discount Amortization Straight-Line Method Interest Expense $ Discount Amortized 111 $ Carryi Amount of

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 fill the pictures out Quatro Company Issues bonds dated January 1, 2021, with a par value of $790.000. The bonds' annual contract rate Is 9%, and Interest Is pald semiannually on June 30 and December 31. The bonds mature In three years. The annual market rate at the date of Issuance Is 8%, and the bonds are sold for $810.694. 2 How much total bond Interest expense will be recognized over the Iife of these bonds? 3. Prepare a straight-line amortization table for these bonds.