On January 1, 2017, $2010000, 10-year, 10% bonds, were issued for $1950000. Interest is paid annually on January 1. If the issuing corporation uses the straight-line method to amortize discount on bonds payable, the monthly amortization amount is:
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The City of Sycamore has investments in bonds. These bonds have an amortized cost of $1,997,000. At year end, the financial press reports a market value of $2,002,600 for these bonds. The original cost of the bonds was $1,993,000.
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