Question - Wempe Co. sold $3,477,000, 10%, 10-year bonds on January 1, 2014. The bonds were dated January 1, 2014, and pay interest on January 1. The company uses straight-line amortization on bond premiums and discounts. Financial statements are prepared annually.
Prepare amortization tables for issuance of the bonds sold at 104 for the first three interest payments.
Prepare amortization tables for issuance of the bonds sold at 95 for the first three interest payments.