Interest expense and discount amortization

Reference no: EM1345306

Spencer company sells 10% bonds having a maturity value of 3,000,000 fo 2,783,724. The bonds are dated Jan 1, 2012 and mature Jan 1, 2017. Interest is payable annually on Jan 1.

INSTRUCTION
Set up a schedule of interest expense and discount amortization under the straight -line method.

Reference no: EM1345306

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