Create a bond amortization table, which automatically adjusts to the value of input variables. The...
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Accounting
Create a bond amortization table, which automatically adjusts to the value of input variables. The headings of the table should have (1) year, (2) interest payment, (3) interest expense, (4) amortization of (premium)/discount, and (5) ending balance columns. Pay attention to discount or premium of bonds. You must construct the worksheet with the appropriate numeric format and professional layout. Round number values to the nearest whole dollar.
The fixed variables for the assignment are as follows:
Term of bonds = 20 years
Interest Payments = annual Amortization of Premium or Discount = effective interest method Bond issued = January 1, 2017 First interest payment due = December 31, 2017
I will test the accuracy of your worksheet with random input variables face value, stated rate of interest, market interest rate.
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