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On January 1, when the market interest rate was 10 percent, Seton Corporation completed a $270,000, 9 percent bond issue for $253,399. The bonds
On January 1, when the market interest rate was 10 percent, Seton Corporation completed a $270,000, 9 percent bond issue for $253,399. The bonds pay Interest each December 31 and mature in 10 years. Seton amortizes the bond discount using the straight-line method. 3. Prepare a bond discount amortization schedule for these bonds. (Do not round Intermediate calculations. Round your answers to the nearest dollar.) Period Ended Start Year 1 End Year 2 End Year 3 End Year 4 End Year 5 End Year 6 End Year 7 End Year 8 End Year 9 End Year 10 End Changes During the Period Discount Amortized Cash Paid Interest Expense Ending Bond Liability Balances Discount on Bonds Payable Bonds Payable Carrying Value 0 0 0 0 0 0 0 0 0 0 0
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