The following is a partially completed amortization schedule prepared for the Liggett Company to account for its three year bond issue with a face value of $50,000. The schedule covf494 ers the first three semiannual interest payment dates. Amounts are rounded to the nearest dollar. Compute the missing numbers.
|
Interest |
Bond |
Premium |
Bonds Payable |
|
|
Year |
Paid |
Expense |
Amortized |
Carrying Value |
|
0 |
$52,537 |
|||
|
1/2 |
(1) |
$2,627 |
(2) |
52,164 |
|
1 |
$3,000 |
(3) |
$392 |
(4) |
|
11/2 |
(5) |
(6) |
(7) |
(8) |