Cagney Company sold $210,000 of bonds on July 1, 2022. A portion of the amortization table appears belon Discount on Hon

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Cagney Company Sold 210 000 Of Bonds On July 1 2022 A Portion Of The Amortization Table Appears Belon Discount On Hon 1 (26.59 KiB) Viewed 20 times

Cagney Company sold $210,000 of bonds on July 1, 2022. A portion of the amortization table appears belon Discount on Honds Payable Balance Cash Payment Interest Expense Discount on Bonds (Credit) Payable (Credit) 18,820 $597 6.620 625 Period 12/31/23 4/030/24 12/31/24 Required: 1. Indicate the stated interest rate on these bonds. Round your answer to one decimal place. (Debit) 19,417 8,445 Cash Payment Interest Expense Discount on Bonds Payable (Credit) $597 625 18,420 8020 2. Calculate the effective annual interest rate on these bonds. Round your answer to one decimal place. 3. Determine the interest expense and discount amortization for the interest period ending December 31, 2024, 11 required, round your answers to the nearest whole dollar Discount on Bonds Payable 14,678 4,053 Period (Credit) 12/31/23 6/30/24 12/31/24 4. Determine the liability balance after the interest payment is recorded on December 31, 2024. If required, round your answer to the nearest whole dollar. (Debit) 19,417 9,445 Carrying Value 1201,322 205,947 Balance $4,678 4,053 Carrying Value $205,322 205,947