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Construct a bond amortization table

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Question - On June 1, 2019, Blue Company sold $3,600,000 in long-term bonds for $3,157,600. 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.

Reference no: EM132526441

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