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Idaho Industries, Inc. issued $12,900,000 of 8% debentures on May 1, 2024 and received cash totaling $11,445,690. The bonds pay interest semiannually on May 1

Idaho Industries, Inc. issued $12,900,000 of 8% debentures on May 1, 2024 and received cash totaling $11,445,690. 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 0 decimal places, e.g. 5,275.)

Date

Cash Interest

Interest Expense

Discount Amortized

Carrying Value of Bonds

5/1/24

$enter a dollar amount

11/1/24

$enter a dollar amount $enter a dollar amount $enter a dollar amount enter a dollar amount

5/1/25

enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount

Total

$enter a total amount

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