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Prepare a bond amortization schedule

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Question - On January 1, 2020, Loop de Loop Raceway issued 670 bonds, each with a face value of $1,000, a stated interest rate of 6 percent paid annually on December 31, and a maturity date of December 31, 2022. On the issue date, the market interest rate was 7 percent, so the total proceeds from the bond issue were $652,418. Loop de Loop uses the straight-line bond amortization method. Prepare a bond amortization schedule.

Reference no: EM133134829

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