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Swifty Corporation issued $510,000, 7%, 20-year bonds on January 1, 2022, for $459,929. This price resulted in an effective-interest rate of 8% on the bonds.
Swifty Corporation issued $510,000, 7%, 20-year bonds on January 1, 2022, for $459,929. This price resulted in an effective-interest rate of 8% on the bonds. Interest is payable annually on January 1. Swifty uses the effective-interest method to amortize bond premium or discount. (a1) Prepare the schedule using effective-interest method to amortize bond premium or discount of Swifty. (Round answers to O decimal places, e.g. 5,275.) Interest Periods Issue date 1 2 $ Interest to Be Paid $ Interest Expense to Be Recorded $ Discount Amortization $ Unamortized Discount $ Bond Carrying Value SUPPORT
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