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Current Attempt in Progress Blossom Industries, Inc. issued $18,900,000 of 8% debentures on May 1, 2024 and received cash totaling $16,769,267. The bonds pay
Current Attempt in Progress Blossom Industries, Inc. issued $18,900,000 of 8% debentures on May 1, 2024 and received cash totaling $16,769,267. The bonds pay interest semiannually on May 1 and November 1. The maturity date on these bonds is November 1, 2028. The firm uses the effective- interest method of amortizing discounts and premiums. The bonds were sold to yield an effective rate of 10%. Calculate the total dollar amount of discount or premium amortization during the first year (5/1/24 through 4/30/25) these bonds were outstanding. (Round answers to O decimal places, e.g. 5.275.) Date Cash Interest Interest Expense Discount Amortized C Valu 5/1/24 11/1/24 5/1/25 Total $ $ 04
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