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On January 1, 2020, Skysong Company acquires $110,000 of Spiderman Products, Inc., 9% bonds at a price of $99,611. Interest is received on January 1

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On January 1, 2020, Skysong Company acquires $110,000 of Spiderman Products, Inc., 9% bonds at a price of $99,611. Interest is received on January 1 of each year, and the bonds mature on January 1, 2023. The investment will provide Skysong Company a 13% yield. The bonds are classified as held-to- maturity, (a) Your answer is partially correct. Prepare a 3-year schedule of interest revenue and bond discount amortization applying the straight-line method. (Round answers to decimal places, g. 2,500) Schedule of Interest Revenue and Bond Discount Amortization Straight-line Method Bond Purchased to Yield Cash Interest Bond Discount Carrying Amount Recelved Revenue Amortization of Bonds $ 0 99.611 O O 9900 13363 3463 95537 9900 13363 3463 9900 13363 3463 110.000

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