On January 1, 2009, $5,000,000, 10-year, 8% bonds were issued at $5,150,000. Interest is paid...
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Accounting
On January 1, 2009, $5,000,000, 10-year, 8% bonds were issued at $5,150,000. Interest is paid each January 1 and July 1. If the straight-line method of amortization is used to amortize the premium the annual amortization amount is
(correct answer is $15,000 but I don't know how to get there)
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You can see the logs in the Dashboard.