Question Content Area Oak Branch Inc. issued $860,000 of 7%, 10-year bonds when the market rate was 6%. They received $923,988. Interest was paid semi-annually. Prepare an amortization table for the first three years of the bonds. Round intermediate and final answers to whole dollar amount.   Cash Interest Payment Interest on Carrying Value Amortization of Premium Carrying Value Jan. 1, Year 1       $fill in the blank 1 June 30, Year 1 $fill in the blank 2      $fill in the blank 3      $fill in the blank 4      fill in the blank 5 Dec. 31, Year 1 fill in the blank 6      fill in the blank 7      fill in the blank 8      fill in the blank 9 June 30, Year 2 fill in the blank 10      fill in the blank 11      fill in the blank 12      fill in the blank 13 Dec. 31, Year 2 fill in the blank 14      fill in the blank 15      fill in the blank 16      fill in the blank 17 June 30, Year 3 fill in the blank 18      fill in the blank 19      fill in the blank 20      fill in the blank 21 Dec. 31, Year 3 fill in the blank 22      fill in the blank 23      fill in the blank 24      fill in the blank 25

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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    Oak Branch Inc. issued $860,000 of 7%, 10-year bonds when the market rate was 6%. They received $923,988. Interest was paid semi-annually. Prepare an amortization table for the first three years of the bonds. Round intermediate and final answers to whole dollar amount.

      Cash Interest
    Payment
    Interest on
    Carrying Value
    Amortization of
    Premium
    Carrying Value
    Jan. 1, Year 1       $fill in the blank 1
    June 30, Year 1 $fill in the blank 2      $fill in the blank 3      $fill in the blank 4      fill in the blank 5
    Dec. 31, Year 1 fill in the blank 6      fill in the blank 7      fill in the blank 8      fill in the blank 9
    June 30, Year 2 fill in the blank 10      fill in the blank 11      fill in the blank 12      fill in the blank 13
    Dec. 31, Year 2 fill in the blank 14      fill in the blank 15      fill in the blank 16      fill in the blank 17
    June 30, Year 3 fill in the blank 18      fill in the blank 19      fill in the blank 20      fill in the blank 21
    Dec. 31, Year 3 fill in the blank 22      fill in the blank 23      fill in the blank 24      fill in the blank 25
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