Oak Branch Inc. issued $720,000 of 4%, 10-year bonds when the market rate was 3%. They received $781,821. Interest was paid semi-annually. Prepare an amortization table for the first three years of the bonds. Round intermediate and finalanswers to whole dollar amount.Cash InterestInterest onAmortization ofPaymentCarrying ValuePremiumCarrying ValueJan. 1, Year 1June 30, Year 1Dec. 31, Year 1June 30, Year 2Dec. 31, Year 2June 30, Year 3Dec. 31, Year 3

Date Cash Interest Payment $ Interest on Carrying Value (@1.5%) $ Amortization of Premium $ Carrying…

Oak Branch Inc. issued $720,000 of 4%, 10-year bonds when the market rate was 3%. They received $781,821. Interest was paid semi-annually. Prepare an amortization table for the first three years of the bonds. Round intermediate and fin answers to whole dollar amount. Cash Interest Interest on Amortization of Payment Carrying Value Premium Carrying Value Jan. 1, Year 1 June 30, Year 1 Dec. 31, Year 1 June 30, Year 2 Dec. 31, Year 2 June 30, Year 3 Dec. 31, Year 3

Oak Branch Inc. issued $720,000 of 4%, 10-year bonds when the market rate was 3%. They received $781,821. Interest was paid semi-annually. Prepare an amortization table for the first three years of the bonds. Round intermediate and fin answers to whole dollar amount. Cash Interest Interest on Amortization of Payment Carrying Value Premium Carrying Value Jan. 1, Year 1 June 30, Year 1 Dec. 31, Year 1 June 30, Year 2 Dec. 31, Year 2 June 30, Year 3 Dec. 31, Year 3

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter13: Long-term Liabilities

Section: Chapter Questions

Problem 6EA: Oak Branch Inc. issued $700,000 of 5%, 10-year bonds when the market rate was 4%. They received...

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