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View Policies Show Attempt History Current Attempt in Progress On January 1, 2020, Oriole Company acquires $120,000 of Spiderman Products, Inc., 9% bonds at a
View Policies Show Attempt History Current Attempt in Progress On January 1, 2020, Oriole Company acquires $120,000 of Spiderman Products, Inc., 9% bonds at a price of $114,135. Interest is received on January 1 of each year, and the bonds mature on January 1, 2023. The investment will provide Oriole Company a 11% yield. The bonds are classified as held-to-maturity. (a) Your answer is correct. Prepare a 3-year schedule of interest revenue and bond discount amortization, applying the straight-line method. (Round answers to O decimal places, e.g. 2,500.) Schedule of Interest Revenue and Bond Discount Amortization Straight-line Method (c) (d) Prepare the journal entry for the interest revenue and discount amortization under the straight-line method at December 31, 2021. Prepare the journal entry for the interest revenue and discount amortization under the effective-interest method at December 31, 2021. (Round answers to O decimal places, e.g. 2,500. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) No. Account Titles and Explanation Debit Credit (c) (d) eTextbook and Media
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