(Answered) Question - sears issues bonds with a par value of 175000 on

Accounting

Question - Sears issues bonds with a par value of $175,000 on January 1, 2009. The bonds' annual contract rate is 4%, and interest is paid semiannually on June 30 and December 31. The bonds mature in three years. The annual market rate at the date of issuance is 6%, and the bonds are sold for $165,523.

Prepare an amortization table for these bonds; use the straight-line method to amortize the discount. Please use Excel.

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