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On January 1, 2016, a company issues 3-year bonds with a face value of $210,000 and a stated interest rate of 7%. Because the market

On January 1, 2016, a company issues 3-year bonds with a face value of $210,000 and a stated interest rate of 7%. Because the market interest rate is 5%, the company receives $221,437 for the bonds.

Required: Fill in the table assuming the company uses effective-interest bond amortization. (Round your answers to the nearest whole dollar.)

Period Ended Cash Paid Interest Expense Amortized Premium Bonds Payable Premium on Bonds Payable Carrying Value
01/01/2016
12/31/2016
12/31/2017
12/31/2018

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