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Below is the amortization schedule for a $300000 bond that was retired on December 31, 2021 at 106: Date Int. payment Int. expense Prem. Amort
Below is the amortization schedule for a $300000 bond that was retired on December 31, 2021 at 106:
| Date | Int. payment | Int. expense | Prem. Amort | Premium | Carrying value |
| June 30, 2018 | $66,949 | $366,949 | |||
| December 31, 2018 | $13,500 | $11,008 | $2,492 | $64,457 | $364,457 |
| June 30, 2019 | $13,500 | $10,934 | $2,566 | $61,891 | $361,891 |
| December 31, 2019 | $13,500 | $10,857 | $2,643 | $59,248 | $359,248 |
| June 30, 2020 | $13,500 | $10,777 | $2,723 | $56,525 | $356,525 |
| December 31, 2020 | $13,500 | $10,696 | $2,804 | $53,721 | $353,721 |
| June 30, 2021 | $13,500 | $10,612 | $2,888 | $50,832 | $350,832 |
| December 31, 2021 | $13,500 | $10,525 | $2,975 | $47,857 | $347,857 |
The gain or loss on retirement is
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Intermediate Accounting 2007 FASB Update Volume 1
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
12th Edition
0470128755, 978-0470128756
