Topic: Preparing Bond Amortization Table
Neel Industries recently issued $35 million of 12% coupon bonds, payable semiannually, which mature in 10 years. The bonds were sold for $33,071,761 to yield a 13% annual rate. Use the table to show the amortization of the discount, interest expense, and the carrying amount of the bonds from issuance till the end of period 4.
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Interest
Expense
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Interest
Paid
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Amortization
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Discount
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Bond
Payable
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0
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1
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2
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3
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4
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