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Problem starts: On January 1,2015

On January 1, 2015, Shay issues $700,000 of 10%, 15-year bonds at a price of 971/4. Six years later, on January 1, 2021, shay retires 20% of these bonds by buying them on the open market at 1041/2. All interest a accounted for and paid through December 31, 2020, the day before the purchase. the straight-line method is used to amortize any bond discount. How much does the company receive when it issues the bonds on January 1, 2015? What is the amount of the discount on the bonds at January 1, 2015? How much amortization of the discount is recorded on the bonds for the entire period from January 1. 2015. through December 31. 2020? What is the carrying (book) value of the bonds as of the close of business on December 31. 2020.' What is the carrying value of the 20c/c soon-to-be-retired bonds on this same date? How much did the company pay on January 1, 2021. to purchase the bonds that it retired? What is the amount of the recorded gain or loss from retiring the bonds? Prepare the journal entry to record the bond retirement at January 1, 2021. January 1 , 2015, Eagle borrows $100.000 cash by signing a four-year 7% installment note .The note lour equal total payments of accrued interest and principal on December 31 of each year from 20I5 through 2018. Compute the amount of each of the four equal total payments. prepare an amom/aUon table for this installment note like the one in Exhibit 10.14

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