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linda_us, Master's Degree
Category: Business and Finance Homework
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Logan Corporation issued $800,000 of 8% bonds on October 1,

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Logan Corporation issued $800,000 of 8% bonds on October 1, 2011, due on October 1, 2016. The interest is to be paid twice a year on April 1 and October 1. The bonds were sold to yield 10% effective annual interest. Logan Corporation closes its books annually on Decembr 31.
(a) Complete an amortization schedule for the above bond (for all periods). Use the effective interest method (round all answers to the nearest dollar).

(b) Prepare the journal entries for the following:
1. October 1, 2011 bond issue
2. Adjusting entry for December 31, 2011 (adjusting entry should cover 3 months)
3. April 1, 202 entry
4. October 1, 2012 entry
5. Adjusting entry from December 31, 2012

(c) Compute the interest expense to be reported in the income statement for the year ended December 31, 2011 and December 31, 2012

Read more: Logan Corporation issued $800,000 of 8% bonds on October 1, - JustAnswer

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Customer: replied 3 years ago.

Hi Linda

I have been trying forever the reply to expert finally got tech to help. I have been trying to edit my question. I need my answer in an Excel not word. Thanks

linda_us and other Business and Finance Homework Specialists are ready to help you
Customer: replied 3 years ago.

Linda how do I take the excel document out of read mode?

Just download it. You would see a button on right hand corner (top side).

Customer: replied 3 years ago.

Hi Linda,


I have a multible question posted would you be willing to assist with that?

I am busy now but if I have time I will reply to the post itself.
Customer: replied 3 years ago.


You are welcome