On January 1,2018,a Company Issues 3-Year Bonds with a Face

question 41

Essay

On January 1,2018,a company issues 3-year bonds with a face value of $50,000 and a stated interest rate of 7%.Because the market interest rate is 9%,the company receives $47,469 for the bond.
Required:
Fill in the table assuming the company uses effective-interest bond amortization.
$$\begin{array} { | c | c | c | c | c | c | c | } \hline \begin{array} { c } \text { Period } \\\text { Ended }\end{array} & \begin{array} { c } \text { Cash } \\\text { Paid }\end{array} & \begin{array} { c } \text { Interest } \\\text { Expense }\end{array} & \begin{array} { c } \text { Amortized } \\\text { Discount }\end{array} & \begin{array} { c } \text { Bonds } \\\text { Payable }\end{array} & \begin{array} { c } \text { Discount on } \\\text { Bonds } \\\text { Payable }\end{array} & \begin{array} { c } \text { Carrying } \\\text { Value }\end{array} \\\hline 01 / 01 / 18 & & & & & & \\\hline 12 / 31 / 18 & & & & & & \\\hline 12 / 31 / 19 & & & & & & \\\hline 12 / 31 / 20 & & & & & & \\\hline\end{array}$$

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Definitions:

Structural Imbalance

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Drug Identification Number

A unique identifier assigned to a medication by health authorities for the purpose of regulation and identification.

Canadian Food and Drugs Act

Legislation that regulates the safety and quality of food, drugs, and health products in Canada, ensuring public health and safety.