What would is the amortization schedule that determines

Reference no: EM133538108

Case: On January 1, 2023, Nelson Group issued $1,000,000 of 8% bonds, dated January 1, 2023. Interest is payable semiannually on June 30 and December 31. The bonds mature in five years. The market yield for bonds of similar risk and maturity is 6%

What would is the amortization schedule that determines interest at the effective rate through the maturity date of the bonds?

What would the journal entries be to record the interest on June 30, 2023, and December 31, 2023?

Assume that Nelson Group retires the bonds on January 2, 2026, paying $1,017,500, what would theentry be to record the retirement?

Reference no: EM133538108

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