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Current Attempt in Progress On January 1,2024, Carla Vista Ltd. issued $550,000 of 5%,5-year...

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Accounting

Current Attempt in Progress
On January 1,2024, Carla Vista Ltd. issued $550,000 of 5%,5-year bonds. The bonds were issued to yield a market interest rate of 6%. Carla Vista's year end is December 31. On January 1,2026, immediately after making and recording the semi-annual interest payment, Carla Vista redeemed the bonds. A partial bond amortization schedule is presented below.
\table[[\table[[Semi-Annual],[Interest Period]],\table[[Interest],[Payment]],\table[[Interest],[Expense]],Amortization,\table[[Carrying],[Amount of Bonds]]],[Jan.1,2024,,,,$526,542
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