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Presented below is a partial amortization schedule for Discount Foods

Presented below is a partial amortization schedule for Discount Foods:

 

(1)

 

Period

(2)

Cash

Paid

(3)

Interest

Expense

(4)

Increase in

Carrying Value

(5)

Carrying

Value

Issue date

 

 

 

$74,564

1

$2,800

$2,983

$183

74,747

2

  2,800

  2,990

  190

74,937

 

1.  Record the bond issue.

2.  Record the first interest payment.

 

 

143. Presented below is a partial amortization schedule for Premium Foods:

 

(1)

 

Period

(2)

Cash

Paid

(3)

Interest

Expense

(4)

Decrease in

Carrying Value

(5)

Carrying

Value

Issue date

 

 

 

$85,951

1

$2,800

$2,579

$221

85,730

2

  2,800

  2,572

  228

85,502

 

1.  Record the bond issue.

2.  Record the first interest payment.

Jan 27 2020 View more View Less

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