Question: Using a Premium Amortization Table (Straight Line) For Dingle Corporation, the following amortization table was prepared when $400,000 of 5-year, 7% bonds were sold on

Using a Premium Amortization Table (Straight Line) For Dingle Corporation, the following amortization table was prepared when $400,000 of 5-year, 7% bonds were sold on January 1, 2024, for $431,000. Period Cash Payment (Credit) Interest Expense (Debit) Premium on Bonds Payable (Debit) Premium on Bonds Payable Balance Carrying Value At issue 31,000 431,000 06/30/24 $14,000 $10,900 $3,100 27,900 427,900 12/31/24 14,000 10,900 3,100 24,800 424,800 06/30/25 14,000 10,900 3,100 21,700 421,700 12/31/25

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