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On January 1 of the current year, $2,000,000 10-year 10% bonds were issued for $1,946,000. Interest is paid annually on January 1. If the issuing

On January 1 of the current year, $2,000,000 10-year 10% bonds were issued for $1,946,000. Interest is paid annually on January 1. If the issuing corporation uses the straight-line method to amortize discount on bonds payable, the monthly amortization amount is

$19,460.

$5,400.

$1,454.

$450.

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