Bond Amortization and adjusting entry. Use excel to create an
amortization table for 10 years and show the adjusting entry for
the bond payable for the June payment. Show calculations.
Had issued $1,500,000 of 4%, 10-year bond, dated 1/1/18 for
$1,383,079 when the market rate was 5%. Interest is paid on June 30
and January 1 using the effective interest rate method. The June
payment is included in the Dec. 1 TB.
Trial Balance
December 1, 2021
Description
Debit
Credit...