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needing an amortization table! Debt Issued at a Discount (Straight...

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Accounting

needing an amortization table!
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Debt Issued at a Discount (Straight Line) on January 1, 2024, Drew Company issued Svear bonds with a face value of $35,000,000 for $32,000,000. The stated rate of interest was 7% and interest is paid annually on December 31. Required: Prepare the amortization table for Drew Company's bonds. If an amount box does not require an entry, leave it blank and if the answer is zero, enter "0" Drew Company Amortization Table Cash Interest Discount on Discount on Payment Expense Bonds Payable Bonds Payable (Credit) (Debit) (Credit) Balance Period At issue Carrying Value 12/31/20 12/31/21 12/31/22 12/31/22 12/31/24

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