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Assume that blossom corp. makes a loan to Marie co . And receives in exchange a $ 1 0 , 2 0 0 , three

Assume that blossom corp. makes a loan to Marie co. And receives in exchange a $10,200, three year note bearing interest at 8% annually. The market rate of interest for a note of similar risk is 10%. Over the term of the note, blossom corp will receive $816 interest each year( a rate of 8%) abd a maturity will get $508 more than the cash originally loaned. This $508(the discount) effictively increases the return on the investment from 8% to 10%. It is amortized each period and the ammount of interest income that is recognized is greater than the $816 received each year.
Prepare a three-year discount amortization and interest income schedule assuming Blossom follows IFRS and uses the effective interest method. (For calculation purposes, use 5 decimal places as displayed in the factor table provided and final answer to 0 decimal places, e.g.1,525.)
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