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On june 1, 2013, Everly Bottle Company sold $2,000,000 in long-term bonds for $1,754,200 The bonds will mature in 10 years and have a stated
On june 1, 2013, Everly Bottle Company sold $2,000,000 in long-term bonds for $1,754,200 The bonds will mature in 10 years and have a stated interest rate of 8% and a yield rate of 10% The bonds pay interest annualy on May 31 of each year. The bonds are to be accounted for under the effective-interest method. Construct a bond amortization table for this problem to indicate the amount of interest expense and discount amortization at each May 31. Indude only the first four years. Make sure all columns and rows are properly labeled. (Round to the nearest dollar.)
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