Homework Answers
| Interest expense | 32800 | ||
| Discount on Bonds payable | 5470 | ||
| Cash | 27330 | ||
| Workings: | |||
| Discount on issue | 54700 | =(911000-856300) | |
| Divide by Total periods | 10 | =5*2 | |
| Semi-Annual discount amortization | 5470 |
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