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Current Attempt in Progress Blossom Industries, Inc. issued $12,000,000 of 8% debentures on May 1, 2024 and received cash totaling $10,647,154. The bonds pay
Current Attempt in Progress Blossom Industries, Inc. issued $12,000,000 of 8% debentures on May 1, 2024 and received cash totaling $10,647,154. 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.) Datel 5/1/24 11/1/24 $ 5/1/25 Total Cash Interest Interest Expense Discount Carrying Amortized Value of Bond
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