Bonds Issued at a Discount (Effective Interest) Crafty Corporation issued ($ 475,000) of (5 %), seven-year bonds
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Bonds Issued at a Discount (Effective Interest)
Crafty Corporation issued \(\$ 475,000\) of \(5 \%\), seven-year bonds on December 31, 2018, for \(\$ 448,484\). Interest is paid annually on December 31 . The market rate of interest is \(6 \%\).
Required:
Prepare the amortization table using the effective interest rate method. (Note: Round to the nearest dollar.)
Cornerstone Exercise
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Related Book For 
Cornerstones Of Financial Accounting
ISBN: 9780176707125
2nd Canadian Edition
Authors: Jay Rich, Jefferson Jones, Maryanne Mowen, Don Hansen, Donald Jones, Ralph Tassone
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