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On January 1, Sheridan Inc issued $6800000,9% bonds for $7242000. The market rate of interest for these bonds is 8%. Interest is payable annually on

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On January 1, Sheridan Inc issued $6800000,9% bonds for $7242000. The market rate of interest for these bonds is 8%. Interest is payable annually on December 31 . Sheridan uses the effective-interest method of amortizing bond premium. At the end of the first year, Sheridan should report unamortized bond premium of $306000$376208$409360$410230

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