Refer to the information for Drew Company above. On December 31, 2011, Drew Company issued $350,000, five-year

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Refer to the information for Drew Company above.
On December 31, 2011, Drew Company issued $350,000, five-year bonds for $320,000. The stated rate of interest was 7 percent and interest is paid annually on December 31.

Required:
Prepare the amortization table for Drew Company’s bonds.
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Cornerstones of Financial and Managerial Accounting

ISBN: 978-1111879044

2nd edition

Authors: Rich, Jeff Jones, Dan Heitger, Maryanne Mowen, Don Hansen

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