Prepare an Amortization Schedule for the 1st 2 Years (Straight

question 171

Essay

Prepare an amortization schedule for the 1st 2 years (straight line method) using the following data:
1. On January 1, 2010 XYZ Co. issued $3,000,000, 6%, 10 year bonds, interest payable on June 30th and December 31st to yield 5%. Use the following format and round to the nearest dollar (may have small rounding error). The bonds were issued for $3,233,834.
2. Show how this bond would be reported on the balance sheet on 12/31/11.

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