This paper circulates around the core theme of ACCOUNTING 231-Sanford Co. sells $513,700 of 8% bonds on March together with its essential aspects. It has been reviewed and purchased by the majority of students thus, this paper is rated 4.8 out of 5 points by the students. In addition to this, the price of this paper commences from £ 59. To get this paper written from the scratch, order this assignment now. 100% confidential, 100% plagiarism-free.
Sanford Co. sells $513,700 of 8% bonds on March 1, 2014. The bonds pay interest on September 1 and March 1. The due date of the bonds is September 1, 2017. The bonds yield 12%.Prepare a bond amortization schedule using the effective-interest method for discount and premium amortization. Amortize premium or discount on interest dates and at year-end. (Round answers to 0 decimal places, e.g. 38,548.)Schedule of Bond Discount AmortizationEffective-Interest MethodBonds Sold to YieldDateCashPaidInterestExpenseDiscountAmortizedCarryingAmount ofBonds3/1/14$$$$9/1/143/1/159/1/153/1/169/1/163/1/179/1/17