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Presented below is the partial bond discount amortization schedule for Syam Corp., which uses the effective-interest method of amortization.
Use effective-interest method of bond amortization.
Interest Periods
Interest to Be Paid
Interest Expense to Be Recorded
Discount Amortization
Unamortized Discount
Bond Carrying Value
Issue date
$38,609
$961,391
1
$45,000
$48,070
$3,070
35,539
964,461
2
45,000
48,223
3,223
32,316
967,684
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