Cashion Company - Cashion Company Face Value of Bonds...

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Cashion Company Face Value of Bonds $500,000 Issuance Price $425,460 Discount on Bonds $74,540 Bond Discount Amortization $9,317.50 1) Cashion Company Bond Discount Amortization Straight-Line Method - Annual Interest Payment 9% Bonds Issued at 12% Issue Date January 1 $45,000 $54,318 $9,317.5 January 1 $45,000 $54,318 $9,317.5 January 1 $45,000 $54,318 $9,317.5 January 1 $45,000 $54,318 $9,317.5 January 1 $45,000 $54,318 $9,317.5 January 1 $45,000 $54,318 $9,317.5 January 1 $45,000 $54,318 $9,317.5 January 1 $45,000 $54,318 $9,317.5 Date Account Title Debit Credit January 1 Bonds Payable $500,000 Loss On Bond Redemption $40,222.5 Discount on Bonds Payable $65,222.5 Cash $475,000 2) Cashion Company Bond Discount Amortization Effective-Interest Method - Semiannual Interest Paym 9% Bonds Issued at 12% Issue Date Annual Interest Periods Interest to Be Paid (A) Interest Expense to Be Recorded (B) Discount Amortization ( C ) = ($9317.50) Semiannual Interest Periods Interest to Be Paid (A) Interest Expense to Be Recorded (B) Discount Amortization ( C ) = (B - A)
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Cashion Company - Cashion Company Face Value of Bonds...

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