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Polk Incorporated issued $213,000 of 9% bonds on July 1, 2016, for $220,918.63. The bonds were...

Polk Incorporated issued $213,000 of 9% bonds on July 1, 2016, for $220,918.63. The bonds were dated January 1, 2016, pay interest on each June 30 and December 31, are due December 31, 2020, and were issued to yield 8%. Polk uses the effective interest method of amortization.

Required:

Prepare a bond interest expense and premium amortization schedule for the bonds through June 30, 2017.

Prepare a bond interest expense and discount amortization schedule for the bonds through June 30, 2017.

POLK INCORPORATED
Bond Interest Expense and Discount Amortization Schedule (Partial)
Effective Interest Method 9% Bonds Sold to Yield 8%
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Given data R pdls ncopoeted issuedt 213000 of q guly Sslution Lunds on ol fer220918 13 . Accounts title Date Dr Cash 220918.

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