1. On January 1, 2020, Walloon Company issued its 5% bonds in the face amount...
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1. On January 1, 2020, Walloon Company issued its 5% bonds in the face amount of $25,000, which mature on January 1, 2027. The bonds were issued for $28,115 to yield 3%. Scottsdale uses the effective-interest method of amortizing bond discounts and premiums. Interest is payable annually on December 31. The 12/31722 premium on Bond Payable balance is: Answer I $
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