Please use excel sheet
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On 1-1-2014 Avion, Inc. Sold Bonds with these particulars: |
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Face amt. of Bonds |
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425,000 |
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Matures on 1-1-2024, in 10 yrs. |
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Stated annual rate of int. |
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7.75% |
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Effective annual rate of interest |
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10.00% |
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Int. is paid every six months; 6-30, 12-31 |
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Req. 1, Assume the effective Interest Method in accounting for these Bonds, build a 10 year amortization table |
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Req. 2, Give General Journal entries to record the sale of the bonds, and the 1st 4 interest payments |
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