(Answered) Question - on january 1 2015 jackson corp purchased 1667000

Accounting

Question - On January 1, 2015, Jackson Corp. purchased $1,667,000 of 10-year, 9% bonds for $1,722,404. The purchase price was based on a market interest rate of 8.5%. Interest is received semi-annually on July 1 and January 1. Jackson's year end is September 30. Jackson intends to hold the bonds until January 1, 2025, the date the bonds mature. The bonds' trading value was $1,728,900 on September 30, 2015.

Prepare a bond amortization schedule for the term of the bonds.

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