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Flint Company sells 8% bonds having a maturity value of $1,950,000 for $1,668,835. The bonds are dated January 1, 2017, and mature January 1, 2022.
Flint Company sells 8% bonds having a maturity value of $1,950,000 for $1,668,835. The bonds are dated January 1, 2017, and mature January 1, 2022. Interest is payable annually on January 1. Set up a schedule of interest expense and discount amortization under the straight-line method. (Round answers to 0 decimal places, e.g. 38,548.) Schedule of Discount Amortization Straight-Line Method Cash Interest Discount Paid Expense Amortized Year Carrying Amount of Bonds E Jan. 1, 2017 1668835 Jan. 1, 2018 Jan. 1, 2019 allllll Jan. 1, 2020 PXPX Jan. 1, 2021 Jan. 1, 2022
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