Question: Devon Harris Company sells 10% bonds having a maturity value of 2,000,000 for 1,855,816. The bonds are dated January 1 2014 and mature January 1

Devon Harris Company sells 10% bonds having a maturity value of 2,000,000 for 1,855,816. The bonds are dated January 1 2014 and mature January 1 2019 Interest is payable annually on January 1

Set up a schedule of interest expense and discount amortization under the effective-interest method(Hint: The effective-interest rate must be computed)

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