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Metlock Electronics Ltd. issued $690,000 of 15-year, 6.0% bonds on January 1,2025, when...

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Accounting

Metlock Electronics Ltd. issued $690,000 of 15-year, 6.0% bonds on January 1,2025, when the market interest rate was 5.0%. The cash received at the issuance of the bond was $762,209.51. Interest is payable semi-annually on July 1 and January 1. Metlock has a December 31 year end.
Prepare a bond amortization schedule for the first four interest periods, using the effective-interest method. (Round answers to 2 decimal places, e.g.15.75.)
Record the issue of the bonds and the first interest payment. (List all debit entries before credit entries. Credit account titles are
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