Orbit Corp.
bondspl7a1.xls
Exercises
E 12-16 (10-15 min.) | ||||||||||||
26021 | 0.05 | 400000 | ||||||||||
A | B | C | D | |||||||||
Semiannual Interest Period | Cash Payment | Interest Expense | Decrease in Principal | Principal Balance | ||||||||
(D) x 10% x 6/12 | (A) - (B) | (D) - (C) | ||||||||||
January 1, 2007 | ||||||||||||
June 30, 2007 | ||||||||||||
December 31, 2007 | ||||||||||||
June 30, 2008 | ||||||||||||
December 31, 2008 | ||||||||||||
June 30, 2009 | ||||||||||||
b. | Journal | |||||||||||
Date | Accounts and Explanations | Post Ref. | Debit | Credit | ||||||||
2007 | ||||||||||||
Jan 1 | ||||||||||||
Jun 30 |