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Required information [The following information applies to the questions displayed below.] On January 1, when the market interest rate was 9 percent, Seton Corporation completed

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Required information [The following information applies to the questions displayed below.] On January 1, when the market interest rate was 9 percent, Seton Corporation completed a $260,000, 7 percent bond issue for $226,626. The bonds pay interest each December 31 and mature in 10 years. Seton amortizes the bond discount using the straight-line method. 3. Prepare a bond discount amortization schedule for these bonds. (Do not round intermediate calculations. Round your answers to the nearest dollar.) Changes During the Period Ending Bond Liability Balances Period Ended Cash Paid Discount Amortized Interest Expense Bonds Payable Discount on Bonds Payable Carrying Value Start Yr 1 End Yr 2 End Yr 3 End Yr 4 End Yr 5 End Yr 6 End Yr 7 End Yr 8 End Yr 9 End Yr 10 End

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