Wildhorse Ltd. issued $0.94 million of 5-year, 4% bonds dated May 1, 2024, for $983,344 when the market interest rate was 3%. Interest is paid semi-annually on May 1 and November 1. Prepare an amortization schedule for the first three interest payments. (Round answers to O decimal places, e.g. 5,275.) Date May 1, 2024 WILDHORSE LTD. Bond Premium Amortization Table Effective Interest Method-Semi-Annual Interest Payments 4% Bonds Issued at market rate of 3% Interest Expense Premium Amortization Interest Payment Bond Carrying Amoun
Wildhorse Ltd. issued $0.94 million of 5-year, 4% bonds dated May 1, 2024, for $983,344 when the market interest rate was 3%. Interest is paid semi-annually on May 1 and November 1. Prepare an amortization schedule for the first three interest payments. (Round answers to O decimal places, e.g. 5,275.) Date May 1, 2024 WILDHORSE LTD. Bond Premium Amortization Table Effective Interest Method-Semi-Annual Interest Payments 4% Bonds Issued at market rate of 3% Interest Expense Premium Amortization Interest Payment Bond Carrying Amoun
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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(1).
![Wildhorse Ltd. issued $0.94 million of 5-year, 4% bonds dated May 1, 2024, for $983,344 when the market interest rate was 3%.
Interest is paid semi-annually on May 1 and November 1. Prepare an amortization schedule for the first three interest payments.
(Round answers to O decimal places, e.g. 5,275.)
Date
May 1, 2024
Nov. 1, 2024
May 1, 2025
Nov. 1, 2025
WILDHORSE LTD.
Bond Premium Amortization Table
Effective Interest Method-Semi-Annual Interest Payments
4% Bonds Issued at market rate of 3%
Interest Expense
Premium Amortization
Interest Payment
Bond Carrying Amoun](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F9e73faeb-754b-4598-beaf-65c4605dc4b7%2F8b668105-5cc8-4ce3-a8cc-01acef1ef267%2F0ly5br9_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Wildhorse Ltd. issued $0.94 million of 5-year, 4% bonds dated May 1, 2024, for $983,344 when the market interest rate was 3%.
Interest is paid semi-annually on May 1 and November 1. Prepare an amortization schedule for the first three interest payments.
(Round answers to O decimal places, e.g. 5,275.)
Date
May 1, 2024
Nov. 1, 2024
May 1, 2025
Nov. 1, 2025
WILDHORSE LTD.
Bond Premium Amortization Table
Effective Interest Method-Semi-Annual Interest Payments
4% Bonds Issued at market rate of 3%
Interest Expense
Premium Amortization
Interest Payment
Bond Carrying Amoun
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