Question: I need help with this problem. Please explain how you got it. E14-7 (L01) (Amortization Schedule Effective Interest) Assume the same information as E14-6. Instructions

I need help with this problem. Please explain how you got it.

it. E14-7 (L01) (Amortization Schedule Effective Interest) Assume the same information as

E14-7 (L01) (Amortization Schedule Effective Interest) Assume the same information as E14-6. Instructions 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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