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On November 1, 2019, Davis Company issued $30,000, seven-year, 5% bonds for $29,244. The bonds...

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Accounting

On November 1, 2019, Davis Company issued $30,000, seven-year, 5% bonds for $29,244. The bonds were dated November 1, 2019, and interest is payable each November 1 and May 1. Davis uses the straight-line method of amortization.

How much is the amount of discount amortization on each semi-annual interest date?

Multiple Choice

  • $378.

  • $108.

  • $54.

  • $756.

Answer & Explanation Solved by verified expert
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