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Required information Problem 14-5A Straight-Line: Amortization of bond premium and discount LO P1, P2, P3 [The following information applies to the questions displayed below.] Legacy

Required information

Problem 14-5A Straight-Line: Amortization of bond premium and discount LO P1, P2, P3

[The following information applies to the questions displayed below.]

Legacy issues $580,000 of 8.0%, four-year bonds dated January 1, 2017, that pay interest semiannually on June 30 and December 31. They are issued at $507,959 and their market rate is 12% at the issue date.

Problem 14-5A Part 3

3. Prepare a straight-line amortization table for the bonds' first two years.

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