Specialty Autoparts Inc . i parts Inc . issued $150. 060 of 3 % 10 year bonds at a price of 85 on January 31 2017 . The market i et interest rate at...
Can I get help with the following two attached questions please?
Specialty Autoparts Inc . iparts Inc . issued $150. 060 of 3 % 10 year bonds at a price of 85 on January31 2017 . The market iet interest rate at the date of issuance was 5% and the standard bonds pay interest semi- annual1 . Prepare an effective interest amortization table for the bonds through the first three interest payments2 . Record Specialty's issuance of the bonds on January 31 2017 and payment of the first semi-annual interest amount and amortization of the bonds on JulJuly 31 2017 Explanations are not required1 . Prepare an effective - interest amortization table for the bonds through the first three interest payments ( Round your answers to the nearest whole dollar . )Specialty AutopartsAmortization TableInterest PaymentInterest ExpenseBond DiscountBond DiscountSemi- annual(1.5% of12.5 % of Preceding BondAmortizationAccount Balance Carrying AmountInterest Date Maturity Value )arrying Amount )( B - A )( Preceding D - C ) ( $150.090 - D )Jan 31 2017July 31 2017Jan 31 . 2018July 31 2018
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