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Prepare the schedule using effective-interest method

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Grouper Corp. issued $ 380,000, 8%, 25-year bonds on January 1, 2017, for $ 311,015. This price resulted in an effective-interest rate of 10% on the bonds. Interest is payable annually on January 1. Grouper uses the effective-interest method to amortize bond premium or discount.

Problem 1: Prepare the schedule using effective-interest method to amortize bond premium or discount of Grouper Corp.

Reference no: EM133002435

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