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On June 1, 2024, Blossom Bottle Company sold $2,400,000 in long-term bonds for $2,105,053. The bonds will mature in 10 years and have a
On June 1, 2024, Blossom Bottle Company sold $2,400,000 in long-term bonds for $2,105,053. 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 annually 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. Include only the first four years. (Round answers to O decimal places, e.g. 25,000.) Date Credit Cash 6/1/24 5/31/25 $ 5/31/27 5/31/28 5/31/29 eTextbook and Media List of Accounts $ Debit Interest Expense Credit Bond Discount Carrying Amoun $ $
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