Solved: Scheich uses the effective-interest method of amortizing, Accounting Basics

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Scheich uses the effective-interest method of amortizing

Question - On July 1 2016, Scheich Company issued 8% bonds in the face amount of $5,000,000 which mature on July 1, 2022. The bonds were issued for $4,365,416 to yield 11%. Scheich uses the effective-interest method of amortizing bond discount. Interest is payable annually on June 30. At June 30, 2019 the unamortized bond discount should be?

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Accounting Basics: Scheich uses the effective-interest method of amortizing

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