On January 1,2022, Blue Spruce and Lois Company purchased 1296 bonds with a maturity value...
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On January 1,2022, Blue Spruce and Lois Company purchased 1296 bonds with a maturity value of $228,000 for $245.285.99. The bonds provide the boncholders with a 10% vield. They are dated January 1,2022, and mature on January 1, 2027, with interest receivable on December 31 of each year, Blue Spruce and Lols uses the effective interest method to allocate unamortized discount or premium. The bonds are classified as amor tized cost investments. (a) Prepare the journal entry at the date of the bond purchose, fCredir account tities are outamatically indented when the denotant is enterd. Do not indent manually. If no entry is required, select No Entry lor the account titles and enter O for the amounts. List debit entry before credit entry Round answers to 2 decimet places 15.5275 : Prepare a bond amortization schedule. (Round answers to 2 decimal places, eg 52.75.)
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