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Sarasota ple sells 10% bonds having a maturity value of 2,550,000 for 2,366,166. The bonds are dated January 1, 2022, and mature January 1, 2027.

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Sarasota ple sells 10% bonds having a maturity value of 2,550,000 for 2,366,166. The bonds are dated January 1, 2022, and mature January 1, 2027. Interest is payable annually on January 1 Set up a schedule of interest expense and discount amortization. (Hint: The effective interest rate must be computed) (Round effective interest rate to decimal places, es 25% Round answers to 2 decimal places, 28,38,548.37) Schedule of Discount Amortization Effective Interest Method Year Cash Pald Interest Expense Discount Amortized Carrying Amount of Bonds Jan E 1 2022 E Dec 31 2022 Dec 31 2023 Dec 31 2024 Dec

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