On January 1, 2007, Vex Corporation issued $300,000 of 10%, 10-year bonds for $257,616, yielding a market rate of 12%. Interest is paid on July 1 and December 31. Vex uses the interest method to amortize the discount.

1.Using an issue price of $265,590.24, prepare an amortization schedule for the first three semiannual periods.

On January 1, 2007, Vex Corporation issued $300,000 of 10%, 10-year bonds for $257,616, yielding a market rate of 12%. Interest is paid on July 1 and December 31. Vex uses the interest method to amortize the discount.

1.Using an issue price of $265,590.24, prepare an amortization schedule for the first three semiannual periods.

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