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Suppose that Sony sold $1,110,000, 5-year, 5% bonds on January 1, 2025 for $1,071,000. The company uses straight-line amortization. Complete the following bond amortization
Suppose that Sony sold $1,110,000, 5-year, 5% bonds on January 1, 2025 for $1,071,000. The company uses straight-line amortization. Complete the following bond amortization schedule for 2025 and 2026: Interest Periods Interest to be paid January 1, 2025 $ January 1, 2026 55500 $ BOND AMORTIZATION SCHEDULE Interest expense Discount Amortization 94500 i 39000 Suppose that Sony sold $1,110,000, 5-year, 5% bonds on January 1, 2025 for $1,071,000. The company uses straight-line amortization. Complete the following bond amortization schedule for 2025 and 2026: Interest expense BOND AMORTIZATION SCHEDULE Discount Amortization 94500 39000 $ Unamortized Bond Discount Carrying Value
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