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E14-10 (Entries for Bond Transactions) On January...

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Question

E14-10 (Entries for Bond Transactions) On January 1, 2012, Osborn Company sold 12% bonds having a maturity value of $800,000 for $860,651.79, which provides the bondholders with a 10% yield. The bonds are dated January 1, 2012, and mature January 1, 2017, with interest payable December 31 of each year. Osborn Company allocates interest and unamortized discount or premium on the effective-interest basis. Prepare a schedule of interest expense and bond amortization for 2012?2014.

 

Paper#9277 | Written in 18-Jul-2015

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