Xerox Company Issues $ 2,000,000 9% 2 yr bonds at 97 Interest is payable on July 1st and January 1st, 2014. Straight-line method...

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Xerox Company Issues $       2,000,000 9% 2 yr bonds at 97
Interest is payable on July 1st and January 1st, 2014.Straight-line method is used for amorization. ?
Optional Work Area ? Face, Price, Carry Value >            2,000,000 97            1,940,000 ?
? Bond Rate> 9% Discount/Premium>                 60,000 ?
? #Periods > 4 ? ?
JE #5: Redeem Bonds @ 101 on Jan 1st year #2 assuming BondInterest payment has been made. This is a test of your totalunderstanding of using the bond amortization table and basicaccounting principles. 'Critical thinking' is required. Explanationshould contain all data needed for someone else who has theamortization table to verify the JE.

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answer Bond Amortization schedule is as prepared below Particulars Amount Face value of Bond 2000000 Less Bond issue price 200000097 1940000 Unamortized Bond discount 60000 Amortized in 4 period 15000 Amortization Schedule A B C D E Period Cash See Answer

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Xerox Company Issues		$ 2,000,000	9%	2	yr bonds at	97
Interest is payable on July 1st and January 1st, 2014.Straight-line method is used for amorization.						?

Optional Work Area	?	Face, Price, Carry Value >	2,000,000	97	1,940,000	?
	?	Bond Rate>	9%	Discount/Premium>	60,000	?
	?	#Periods >	4	?		?