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Prepare an amortization table and provide journal entries

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Question - Butterfly Company purchases $150,000, 10%, five-year bonds of Prestige Corporation on January 1, 2021, with interest payable on July 1 and January 1. The bond sells for $162,166.50. The effective interest rate is 8%. Assume IFRS. Prepare an amortization table and provide journal entries for 2021. Show all relevant calculations.

Reference no: EM132995801

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