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On January 1, 2017 Aumont Company sold 12% bonds having a maturity value of $500,000 for $537.907, which provides the bondholders with a 10% yield.

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On January 1, 2017 Aumont Company sold 12% bonds having a maturity value of $500,000 for $537.907, which provides the bondholders with a 10% yield. The bonds are dated January 1, 2017 and mature January 1, 2022 with interest payable December 31 of each year. Aumont Company allocates interest and unamortized discount or premium on the effective interest basis. (d) Prepare the journal entry to record the interest payment and the amortization for 2019. (Round answer to decimal places, .g. 38,548. If no entry is required, select "No Entry for the account titles and enter for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation December Date Debit Credit 31, 2019

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