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Determine accrual of interest and the premium amortization

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Problem 1: Carla Vista Co. issued $474,000, 6%, 30-year bonds on January 1, 2022, at 106. Interest is payable annually on January 1.

Point (a)Carla Vista uses straight-line amortization for bond premium or discount.

Point (b)The accrual of interest and the premium amortization on December 31, 2022.

Point (c)The payment of interest on January 1, 2023.

Point (d)The redemption of the bonds at maturity, assuming interest for the last interest period has been paid and recorded

Reference no: EM132475223

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