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What is the effect of the amortization of Premium on Bonds Payable on Retained Earnings and the Bonds Payable carrying value, respectively? __________ Retained Earnings

What is the effect of the amortization of Premium on Bonds Payable on Retained Earnings and the Bonds Payable carrying value, respectively?

__________ Retained Earnings __________ B/P CV

I'd like to know how you solve for the answers; specifically retained earnings.

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