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On November 1, 2019, Davis Company issued $30,000, seven-year, 7% bonds for $29,440. The bonds were dated November 1, 2019, and interest is payable each

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On November 1, 2019, Davis Company issued $30,000, seven-year, 7% bonds for $29,440. The bonds were dated November 1, 2019, and interest is payable each November 1 and May 1. Davis uses the straight- line method of amortization. How much is the amount of discount amortization on each semi-annual interest date? Multiple Choice $280. $80. $40. $560

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