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1. Under what conditions of bond issuance does a discount on bonds payable arise? Under what conditions of bond issuance does a premium on bonds

1. Under what conditions of bond issuance does a discount on bonds payable arise? Under what conditions of bond issuance does a premium on bonds payable arise?

2. How should discount on bonds payable be reported on the financial statements? Premium on bonds payable?

3. What are the two methods of amortizing discount and premium on bonds payable? Explain each.

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