Stacy company issued five-year 10 bonds with a face value

Reference no: EM13593781

Stacy Company issued five-year, 10% bonds with a face value of $10,000 on January 1, 2012. Interest is paid annually on December 31. The market rate of interest on this date is 12%, and Stacy Company receives proceeds of $9,279 on the bond issuance.Prepare a five-year table to amortize the discount using the effective interest method.

Note:Round the 12/31/12 interest expense and discount amortized up to the nearest dollar. For all other computations, follow normal rounding to the nearest dollar. Enter all amounts as positive numbers. If required, round all calculations to the nearest dollar.

Reference no: EM13593781

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