Super Splash issues $870,000, 7% bonds on January 1, 2021, that mature in 15 years. The market interest rate for bonds of similar risk and maturity is 6%, and the bonds issue for $955,262. Interest is paid semiannually on June 30 and December 31. 1. Complete the first three rows of an amortization schedule. (Do not round intermediate calculations. Round your final answers to the nearest whole dollar.)     Date Cash Paid Interest Expense Change in Carrying Value Carrying Value 01/01/2021         06/30/2021         12/31/2021

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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Super Splash issues $870,000, 7% bonds on January 1, 2021, that mature in 15 years. The market interest rate for bonds of similar risk and maturity is 6%, and the bonds issue for $955,262. Interest is paid semiannually on June 30 and December 31.

1. Complete the first three rows of an amortization schedule. (Do not round intermediate calculations. Round your final answers to the nearest whole dollar.)

 
 
Date Cash Paid Interest Expense Change in Carrying Value Carrying Value
01/01/2021        
06/30/2021        
12/31/2021        

 

 
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