Yates company issued 420,000 8% 10 year bonds on january 1, 2017 interest is payable semi annually on July 1 and January 1. Yates uses the effective interest method of amortization and has a calendar year end. The market rate of interest at the time the bonds were issued was 9%
Use Excel to prepare an amortization schedule that shows the sale of bonds and the calculation of interest expense for the life of the bonds. Use the PV function to calculate for how much the bonds were issued.
Underneath the schedule, prepare the journal entries that would have been made when the bonds were sold and that would have been made at the first two interest payment periods. Also, prepare the journal entry that would have been made when the bonds were retired
Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.
You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.Read more
Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.Read more
Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.Read more
Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.Read more
By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.Read more