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Instructions fiscal year is the calend The following transactions were completed by Winklevossine, of $261,000 is sed $74,000
Instructions Final Questions 2. Indicate the amount of the Interest expense in (a) 2071 and (b) 20Y2. Enter amounts as positi
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Answer #1

Credit Date 20Y1 July 1 Account Titles and explanation Cash Discount on bonds payable ($74,000,000-$63,532,267) Bonds payable

Interest expense: 20Y1 = $4,331,693 20Y2 = $4,331,693 + $4,331,693 = $8,663,386 Carrying amount of bonds as of December 31, 2

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