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Please show all work and calculations, Thank you! On 1-1-2017 Avion, Inc. Sold Bonds with these...

Please show all work and calculations, Thank you!

On 1-1-2017 Avion, Inc. Sold Bonds with these particulars:
Face amt. of Bonds 630,000

Matures on 1-1-2027, in 10 yrs.

Stated annual rate of int. 7.25%

Effective annual rate of interest 6.00%

Int. is paid every six months; 6-30, 12-31

Req. 1, Assume the effective Interest Method in accounting for these Bonds, build a 10-year amortization table

Req. 2, Give General Journal entries to record the sale of the bonds, and the 1st 4 interest payments

Solutions

Expert Solution

ekkarill92 answered 1 year ago
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