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Question
on january 1, 2012, $1,000,000, 5-year, 10% bonds, were issued for $1,060,000. interest is paid annually on january 1. if the issuing corporation uses the straight-line method to amortize premium on bonds payable, the monthly amortization amount is
a.$8,833
b.$12,000
c.$1,200
d.$1,000
Answer
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