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this is a four step problem.

am i correct about part 1? if not can you please explain.

not sure if i did this one right. similar to first part

Check my work Required information On January 1, Year 1 Residence Company issued bonds with a $50.000 face value. The bonds were issued at 96 offering a 4% discount. They had a 20 year term, a stated rate of interest of 7%, and an effective rate of interest of 7.389%. Assuming Residence uses the effective interest rate method, the carrying value of the bond liability on January 1, Year 1 is (round any necessary computations to the nearest whole dollar) Multiple Choice $46,355 $50,000 $48,000 $46,500. Required information 3 of 4 On January 1, Year 1 Residence Company issued bonds with a $50.000 face value. The bonds were issued at 96 offering a 4% discount. They had a 20 year term, a stated rate of interest of 7% and an effective rate of interest of 7.389%. Assuming Residence uses the effective interest rate method, the amount of bond discount amortization recognized on December 31. Year 1 is (round any necessary computations to the nearest whole dollar) eBook Multiple Choice O $200. $100. $52 $47 Assessment 5: On January 1, Year 1 Residence Company... On January 1, Year 1 Residence Company issued bonds with a $50.000 face value. The bonds were issued at 96 offering a 4% discount. They had a 20 year term a stated rate of interest of 7%. and an effective rate of interest of 7.389%. Assuming Residence uses the effective interest rate method, the book value of the bond liability on December 31, Year 2 is (round any necessary computations to the nearest whole dollar) Multiple Choice $48,097 $48.000 $47,903 $48.047

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