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Set up a schedule of interest expense

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Reference no: EM133014276

Question - Sunland Company sells 10% bonds having a maturity value of $2,120,000 for $1,967,165. 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: EM133014276

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