Illustrate what account was debited to amortize the discount

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Reference no: EM13125089

.The following data relate to a $200,000,000, 5% bond issued for a selected semiannual interest period:

Bond carrying amount at beginning of period $216,221,792
Interest paid during the period 5,000,000
Interest expense allocable to the period 4,864,990

(a) Were the bonds issued at a discount or a premium?

(b) What is the unamortized amount of the discount or premium account at the beginning of the period?

Reference no: EM13125089

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