Question: Jamison Corporation issued 100 000 8 10 year bonds on January 1
Jamison Corporation issued $100,000, 8%, 10-year bonds on January 1, 2012, when the market rate of interest was 10%. Proceeds were $87,710.87. Interest is payable annually on January 1. Jamison uses the effective interest method to amortize bond premiums and discounts. Prepare an amortization schedule for the life of the bonds.
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