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On January 1, Shamrock, Inc. issued $6250000, 9% bonds for $5870000. The market rate of...

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Accounting

On January 1, Shamrock, Inc. issued $6250000, 9% bonds for $5870000. The market rate of interest for these bonds is 10%. Interest is payable annually on December 31. Wildhorse uses the effective-interest method of amortizing bond discount. At the end of the first year, Shamrock should report unamortized bond discount of

$355500.

$317500.

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