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Chapter 11 Excel File

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Problem 11-3A Name: Section: Score: Key Code: 100% [Key code here] Instructions Answers are entered in the cells with gray backgrounds. Cells with non-gray backgrounds are protected and cannot be edited. An asterisk (*) will appear to the right of an incorrect entry. 1. Year 1 July 1 Cash Discount on Bonds Payable Bonds Payable Dec. 31 Interest Expense Cash Discount on Bonds Payable Dec. 31 Income Summary Interest Expense Year 2 June 30 Interest Expense Cash Discount on Bonds Payable Dec. 31 Interest Expense Cash Discount on Bonds Payable Dec. 31 Income Summary Interest Expense Year 3 June 30 Bonds Payable Loss on Redemption of Bonds Cash Discount on Bonds Payable 2. A. Year 1 interest expense: 4,331,693 B. Year 2 interest expense: 8,663,386 3. Initial carrying amount of bonds Discount amortized on December 31, Year 1 Discount amortized on June 30, Year 2 Discount amortized on December 31, Year 2 Carrying amount of bonds, December 31, Year 2 63,532,267 261,693 261,693 261,693 64,317,346 63,532,267 10,467,733 74,000,000 4,331,693 4,070,000 261,693 4,331,693 4,331,693 4,331,693 4,070,000 261,693 4,331,693 4,070,000 261,693 8,663,386 8,663,386 74,000,000 ...
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