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Sheridan Company issued $660,000, 7%, 10-year bonds on December 31, 2019, for $590,000. Interest is payable annually on December 31. Sheridan Company uses the straight-line

Sheridan Company issued $660,000, 7%, 10-year bonds on December 31, 2019, for $590,000. Interest is payable annually on December 31. Sheridan Company uses the straight-line method to amortize bond premium or discount.

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