# accounting-Sielert Corporation borrowed \$600,000 from National Bank

## accounting-Sielert Corporation borrowed \$600,000 from National Bank

Hi can you please explain the steps I am having trouble with these problems thanks!1)Sielert Corporation borrowed \$600,000 from National Bank on May 31, 2011. The three-year, 7% note required annual payments of \$228,630 beginning May 31, 2012. Interest expense for the year ended December 31, 2011 was?\$0.\$24,500.\$28,000.\$42,000.Downs Company issued \$800,000 of 8%, 5-year bonds at 106, which pays interest annually. Assuming straight-line amortization, what is the total interest cost of the bonds?\$272,000\$224,000\$368,000\$320,000Winrow Company received proceeds of \$377,000 on 10-year, 8% bonds issued on January 1, 2011. The bonds had a face value of \$400,000, pay interest annually on December 31st, and have a call price of 101. Winrow uses the straight-line method of amortization. What is the carrying value of the bonds on January 1, 2013?\$400,000\$381,600\$395,400\$379,300

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