Brian Lee Company sells 8% bonds having a maturity value of $2,240,000 for $1,917,020. The...
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Brian Lee Company sells 8% bonds having a maturity value of $2,240,000 for $1,917,020. The bonds are dated January 1,2025 , and mature January 1, 2030. Interest is payable annually on January 1. Click here to view factor tables. Set up a schedule of interest expense and discount amortization under the straight-line method. (Round answers to 2 decimal places, eg. 38,548.25.)
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