The following amortization schedule is related to a bond issuance on January 1, 2020. Amortization Schedule Bond Cash Effective Amortization carrying Interest Interest amount value 01/01/20 $41,066 07/01/20 $1,600 $1,437 $163 40,903 01/01/21 1,600 1,432 168 40,735 07/01/21 1,600 1,426 174 40,560 01/01/22 1,600 1,420 180 40,380 07/01/22 1,600 1,413 187 40,193 01/01/23 1,600 1,407 193 40,000 $9,600 $8,534 $1,066 The amount of interest paid in 2020 is $3,200. $1,600. O $2,869. $1,437.

The following amortization schedule is related to a bond issuance on January 1, 2020. Amortization Schedule Bond Cash Effective Amortization carrying Interest Interest amount value 01/01/20 $41,066 07/01/20 $1,600 $1,437 $163 40,903 01/01/21 1,600 1,432 168 40,735 07/01/21 1,600 1,426 174 40,560 01/01/22 1,600 1,420 180 40,380 07/01/22 1,600 1,413 187 40,193 01/01/23 1,600 1,407 193 40,000 $9,600 $8,534 $1,066 The amount of interest paid in 2020 is $3,200. $1,600. O $2,869. $1,437.

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter14: Financing Liabilities: Bonds And Long-term Notes Payable

Section: Chapter Questions

Problem 9RE

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