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Find what would be the amortization for the first year

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The discount on the bond of $134,209 would have to be amortized over the life of the bond. There are two methods of amortization....the straight line method and the effective rate.

Problem 1: Assume that you are using the effective rate method of amortization, what would be the amortization for the first year? and how would you journalize it ?

Reference no: EM132702892

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