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Calculate the netinterest revenue for the year

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A $1,000 bond, paying interest annually on December 31, is purchased on January 1 at 110 as a long-term investment. The life of the bond is 5 years. Prepare entries for the first year and use the straight-line method of premium amortization. Also, calculate thenetinterest revenue for the year. The interest rate is 10%.

Reference no: EM13513324

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