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Prepare the amortization schedule for the bonds

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Question - On December 31, 2015, MLJ Company purchased 5-year, $170,000 bond with a 7% interest rate and a 10% yield. The bonds pay interest annually. The following table presents the fair value of these bonds at year-end:

 

12/31/16

12/31/17

12/31/18

12/31/19

12/31/20

Fair value

$153,200

$159,500

$162,900

$166,500

$170,000

Required - Prepare the amortization schedule for the bonds.

Reference no: EM132520705

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