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Complete the effective interest rate amortization table

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Reference no: EM132527833

Question - TransCanada Pipelines has an outstanding issue of $200,000, 8% bonds that mature in 2028. Suppose the bonds are dated October1, 2018 and pay interest semiannually. The market rate at the time of issuance of bonds was 9% and was done at an issue price of 93.80.

Required -

1. Complete the effective interest rate amortization table through October 1, 2020

2. Prepare journal entries to record the following transactions regarding this bond issue:

a. issuance of the bonds on October 1, 2018.

b. required on December 31, 2018.

c. required for April 1, 2019.

Reference no: EM132527833

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