Please would like some help with this! 6. Grove Corporation issued $4,000,000...
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Please would like some help with this!
6. Grove Corporation issued $4,000,000 of 8% bonds on October 1, 2014, due on October 1. 2019. The interest is to be paid twice a year on April 1 and October 1. The bonds were purchased by the public at 95. Grove Corporation closes its books annually on December 31. (a) Complete the following amortization schedule for all dates until April 1, 2017. (Round all answers to the nearest dollar.) Use the Straight line method. 08001.9630 3192 3399 1%,5 4992 321392 5141 33191 511 4598 %15 34013 (b) Prepare the journal entry for October 1, 2015. Use the Straight line method. (c) Compute the interest expense to be reported in the income statement for the year ended December 31, 2014. Show your calculations and explain you answer. 4800 x 08
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Please would like some help with this! 