Melanie your cash amount per your table is 500000

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Melanie - Your cash amount per your table is 500,000 rather than 5MM and your  premium amount is 26,273.   Reply     Reply to Comment COLLAPSE SUBDISCUSSION     Melanie Colson Melanie Colson Aug 6, 2018Aug 6 at 9:59pm Manage Discussion Entry Professor Forde, After re-reading your response regarding interest journals please find my updated  interest expense journal entries.   12/31/208 Interest Journal entry The table shows subsequent years Effective Rate values for Interest Expense, as well as the values for Premium Amortization  for the Premium on Bond Payable, for that year, with the $500,000 cash value.
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Interest Expense                            334,379 Premium on Bond Payable             165,621                                          Cash                        500,000 12/31/208 Interest Journal entry The table shows subsequent years Effective Rate values for Interest Expense, as well as the values for Discounted  Amortization for the Discount on Bond Payable, for that year, with the $500,000 cash value. Interest Expense                    526,273               Discount on Bond Payable                 26,273               Cash                                                 500,000 Melanie   Reply     Reply to Comment COLLAPSE SUBDISCUSSION
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