ACCOUNTING 231-Sanford Co. sells $513,700 of 8% bonds on March

ACCOUNTING 231-Sanford Co. sells $513,700 of 8% bonds on March

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


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