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Lincoln company issued $40,000 of 10years, 6% bonds payable on January 1, 2018. Lincoln company pays interest each Jan 1 and July 1 and amortizes

Lincoln company issued $40,000 of 10years, 6% bonds payable on January 1, 2018. Lincoln company pays interest each Jan 1 and July 1 and amortizes discount or premium by the straight-line amortization method. The company can issue its bonds payable under various conditions.

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