Solved: Southlake corporation issued 900000 of 8 bonds on march 1, Financial Accounting

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Southlake corporation issued 900000 of 8 bonds on march 1

Southlake Corporation issued $900,000 of 8% bonds on March 1, 20X1. The bonds pay interest on March 1 and September 1 and mature in 10 years. Assume the independent cases that follow.

Case A The bonds are issued at 100.
Case B The bonds are issued at 96.
Case C The bonds are issued at 105.
Southlake uses the straight-line method of amortization.

Instructions:
Complete the following table:

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Financial Accounting: Southlake corporation issued 900000 of 8 bonds on march 1

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