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Matthew Young Company sells 9 % bonds having a maturity value of $ 2 3 6 0 0 0 0 for $ 2 2 1

Matthew Young Company sells

9 %

bonds having a maturity value of $

2360000

for $

2212810

The bonds are dated January

1, 2025

and mature January

1, 2030 .

Interest is payable annually on January

1 .

Set up a schedule of interest and discount amortization under the straight

-

line method.

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