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Record the issuance of the bonds on september?

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Question - On September? 30, 2020?, when the market interest rate is 4 percent, Team Ltd. Issues $8,250,000 of 6 ?percent, 20-year bonds for $10,506,827. The bonds pay interest on March 31 and September 30. Team Ltd. amortizes bond premium by the? effective-interest method.

Required -

1. Prepare an amortization table for the first four? semi-annual interest periods. Team amortizes a bond premium by the? effective-interest method.

2. Record the issuance of the bonds on September? 30, 2020?, the accrual of interest at December? 31, 2020?, and the? semi-annual interest payment on March? 31, 2021.

Reference no: EM133126266

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