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Skysong Company sells 10% bonds having a maturity value of $2,230,000 for $2.069,235. The bonds are dated January 1, 2020, and mature January 1, 2025.
Skysong Company sells 10% bonds having a maturity value of $2,230,000 for $2.069,235. The bonds are dated January 1, 2020, and mature January 1, 2025. Interest is payable annually on January 1. Set up a schedule of interest expense and discount amortization under the straight-line method. (Round answers to 0 decimal places, eg.38,548.) Schedule of Discount Amortization Straight-Line Method Interest Discount Expense Amortized Cash Paid Carrying Amount of Bonds Year $ $ $ $ $ $ $ $ Jan. 1, 2020 Jan. 1, 2021 Jan. 1, 2022 Jan. 1, 2023 Jan. 1, 2024 Jan. 1, 2025
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