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On January 1, 2018, a company issues 3-year bonds with a face value of $160,000 and a stated interest rate of 7%. Because the market

On January 1, 2018, a company issues 3-year bonds with a face value of $160,000 and a stated interest rate of 7%. Because the market interest rate is 5%, the company receives $168,714 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
01/01/2018 $0
12/31/2018 $0 0
12/31/2019 0 0
12/31/2019 0 0

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