Exercise 14-6 Sher eld Company wis 9% bonds having a maturty vei e of S2 200,000

Question

Exercise 14-6 Sher eld Company wis 9% bonds having a maturty vei e of S2 200,000 for $1,962,002. The bonds are dated an ay 1, 2017, and mature la uary 1·2022. Interest is prese a Set up a sched tera4 u ay on January 1 of interest expese ard escount amortization under the straight-lne meted. (Round answers to 0 decimal places, e.g. 38,548.) Carrying Amount of Bonds YearPaldExpenseAmartized Jan. 1, 201 an. 1, 2018 Jan. 1, 2019 Jan. 1, 2020 Jan. 1, 2021 Jan. 1, 2022 Click if you would like to Show Work for this questions Open Show Work Question Attempts: 0 of 15 used SAVE FOR LATER test/aglist.uniid a

Explanation / Answer

Cash paid Interest expense Discount amortized Carrying amount Jan-1-17 1962092 Jan-1-18 198000 245582 47582 2009674 Jan-1-19 198000 245582 47582 2057256 Jan-1-20 198000 245582 47582 2104838 Jan-1-21 198000 245582 47582 2152420 Jan-1-22 198000 245580 47580 2200000

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