Smith corporation issued $100,000 of 5 year bonds on January 1 sped with a states...
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Accounting
Smith corporation issued $100,000 of 5 year bonds on January 1 sped with a states interest rate of 10%. The bonds lay interest annually on December 31st. The. Ones were sold at a premium of 113,292.90 resulting in an effective yield of 8%. The company uses the effective interest method for amortization or the discount. Create an amortization schedule for the premium.
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