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On January 1, 2018, a company issues 3-year bonds with a face value of $220,000 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 $220,000 and a stated interest rate of 7%. Because the market interest rate is 5%, the company receives $231,981 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 01/01/2018 12/31/2018 12/31/2019 12/31/2019 Cash Interest Amorized Bonds Premium on Carrying Paid Expense Premium Payable Bonds Payable Value 0: 0 0 0
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