Question: Minor Inc. sells 10% bonds having a maturity value of $3 million for $2,783,724. The bonds are dated January 1, 2011, and mature on January

Minor Inc. sells 10% bonds having a maturity value of $3 million for $2,783,724. The bonds are dated January 1, 2011, and mature on January 1, 2016. Interest is payable annually on January 1.
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Set up a schedule of interest expense and discount amortization under the straight-line method.

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