Given the Following Data, Prepare an Amortization Schedule (Use the Straight

question 135

Essay

Given the following data, prepare an amortization schedule (use the straight line method)
1/1/10 - issued $800,000, 9%, 3 year bonds, interest paid annually on 12/31 to yield 8%
Use the following format (round to nearest dollar, may have small rounding difference);
Date Cash Paid Interest Exp. Amortization Bond Carrying Value

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Definitions:

Consumption

The act of using up goods and services to satisfy human needs and wants, considered a principal component of GDP.

Durable Goods

Goods that are intended to last for a long period of time, such as cars, appliances, and furniture, typically requiring more significant investment than non-durable goods.

Nondurable Goods

Items that are consumed or are only useable for a short period before they need replacement due to wear or consumption.

Services

Tasks or activities performed by individuals or companies for the benefit of others, typically in exchange for payment, and are intangible in nature.