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Business, 06.04.2021 01:00 jtgarner402

On June 1, 2019, Blossom Company sold $3,660,000 in long-term bonds for $3,210,200. The bonds will mature in 10 years and have a stated interest rate of 8% and a yield rate of 10%. The bonds pay interest annually on May 31 of each year. The bonds are to be accounted for under the effective-interest method. Required:
Construct a bond amortization table for this problem to indicate the amount of interest expense and discount amortization at each May 31.

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On June 1, 2019, Blossom Company sold $3,660,000 in long-term bonds for $3,210,200. The bonds will m...
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