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Any help would be appreciated, and if you can please show your work. Thank you. On January 1, 2020. Concord Company acquires $240.000 of Spiderman

Any help would be appreciated, and if you can please show your work. Thank you. image text in transcribed
On January 1, 2020. Concord Company acquires $240.000 of Spiderman Products, Inc. 10% bonds at a price of $223.000. Interest is received on January 1 of each year, and the bonds mature on January 1, 2023. The investment will provide Concord Company a 13 yield. The bonds are classified as held-to-maturity. Prepare a 3-year schedule of interest revenue and bond discount amortization, applying the straight-line method. (Round answers to decimal places, es. 2,500) Schedule of Interest Revenue and Bond Discount Amortization Straight-line Method Bond Purchased to Yield Bond Discount Carrying Amount Revenue Amortization of Bonds 223000 Interest Cash Received $ 24000 29667 5667 228667 24000 22321 5667 234333 24000 22321 5667 240000 Prepare a 3-year schedule of interest revenue and bond discount amortization, applying the effective-interest method. (Round answers to decimal places, eg 2,500.) Schedule of Interest Revenue and Bond Discount Amortization Effective-Interest Method Bond Purchased to Yield Cash Interest Bond Discount Carrying Amount Received Revenue Amortization of Bonds $ Prepare the journal entry for the interest revenue and discount amortization under the straight-line method at December 31, 2021 Prepare the journal entry for the interest revenue and discount amortization under the effective interest method at December 31, 2021 (d)

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