What is the amortization table through interest periods

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On june 1 2002 Jefferson Control Inc. issued P 12 000 000 of the 10 percent bonds to yield 12 percent. Interest is payable semiannually on may 31 and november 30. the bonds mature in 15 years. Jefferson Control inc. is a calendar year corporation. Requirements

Problem a. What is the issue price of the bonds. How did you compute it?

Problem b. What is the amortization table through the first two interest periods using effective interest method.

Problem c. What are the journal entries to record bond related trabsaction on june 1 2002, november 30 2002, december 31 2002 and may 31 2003.

Reference no: EM132700731

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