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Set up a schedule of interest expense

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Question - Vaughn Company sells 9% bonds having a maturity value of $1,860,000 for $1,658,860. The bonds are dated January 1, 2020, and mature January 1, 2025. Interest is payable annually on January 1. Set up a schedule of interest expense and discount amortization under the straight-line method.

Reference no: EM132605181

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