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On January 1, when the market interest rate was 9 percent, Seton Corporation completed a $290,000, 8 percent bond issue for $271,387. The bonds pay

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On January 1, when the market interest rate was 9 percent, Seton Corporation completed a $290,000, 8 percent bond issue for $271,387. The bonds pay interest each December 31 and mature in 10 years. Assume Seton Corporation uses the effective interest method to amortize the bond discount. 3. Prepare a bond discount amortization schedule for these bonds. (Do not round intermediate calculations. Round your answers to the nearest dollar.) Ending Bond Liability Balances Changes During the Period Interest Discount Cash Paid Expense Amortized Period Ended Discount on Bonds Payable Bonds Payable Carrying Value 2 Start Yr 1 End Yr 2 End Yr 3 End Yr 4 End Yr 5 End Yr 6 End Yr 7 End Yr 8 End Yr 9 End Yr 10 End Ooolalele

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