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Patton Company purchased $ 1 , 5 0 0 , 0 0 0 of 1 0 % bonds of Scott Company on January 1 ,

Patton Company purchased $1,500,000 of 10% bonds of Scott Company on January 1,2021, paying $1,410,375. The bonds mature January 1,2031; interest is payable each July 1 and January 1. The discount of $89,625 provides an effective yeild of 11%. Patton Company uses the effective-interest method and plans to hold these bonds to maturity. On July 1,2021, Patton Company should record what amount of amortized discount?

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