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On January 1, 2025, Buffalo Company purchased 8% bonds having a maturity value of $440,000 for $477,069.47. The bonds provide the bondholders with a 6%
On January 1, 2025, Buffalo Company purchased 8% bonds having a maturity value of $440,000 for $477,069.47. The bonds provide the bondholders with a 6\% yield. They are dated January 1, 2025, and mature January 1, 2030, with interest received on January 1 of each year. Buffalo Company uses the effective-interest method to allocate unamortized discount or premium. The bonds are classified in the held-to-maturity category. Prepare a bond amortization schedule. (Round answers to 2 decimal places, e.g. 1,225.25.)
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