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On January 1, 2024, Bridgeport Corp. acquires $340,000 of Spider Inc. 9% bonds at a price of $315,502. The interest is payable each December 31,

On January 1, 2024, Bridgeport Corp. acquires $340,000 of Spider Inc. 9% bonds at a price of $315,502. The interest is payable each December 31, and the bonds mature on December 31, 2026. The investment will provide Bridgeport Corp. with a 12% yield. Bridgeport Corp. accounts for this investment using the amortized cost model. (a) Prepare a three-year bond amortization schedule. (Round answers to O decimal places, eg. 5,275) Schedule of Interest Income and Bonds Discount Amortization Effective Interest Method 9% Bond Purchased to Yield 12% Date Cash Received 01/01/24 Interest Income Bond Discount Amortization Carrying An $

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