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On January 1, 2021, a company issues 3-year bonds with a face value of $240,000 and a stated interest rate of 7%. Because the market

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On January 1, 2021, a company issues 3-year bonds with a face value of $240,000 and a stated interest rate of 7%. Because the market interest rate is 5%, the company receives $253,070 for the bonds. Required: Fill in the table assuming the company uses effective-interest bond amortization, (Round your answers to the nearest whole dollar.) Interest Expense Amortized Premium Bonds Payable Premium on Bonds Payable Carrying Value Period Ended Cash Paid 01/01/2021 12/31/2021 12/31/2022 12/31/2023

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