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(24) E14-6(Amortization Schedules-Straight-Line) Spencer Company sells 10% bonds having a maturity value of $3,000,000 for...

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Accounting

(24) E14-6(Amortization Schedules-Straight-Line) Spencer Company sells 10% bonds having a maturity value of $3,000,000 for $2,783,724. The bonds are dated January 1,2012, and mature January 1,2017. Interest is payable annually on January 1.
Instructions
Set up a schedule of interest expense and discount amortization under the straight-line method.
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