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On January ​1, 2018​, Varden Incorporated issued $1,590,000 par​ value, 3%​, 7​-year bonds​

On January ​1, 2018​, Varden Incorporated issued $1,590,000 par​ value, 3%​, 7​-year bonds​ (i.e., there were 1,590 of$1,000 par value bonds in the​ issue). Interest is payable semiannually each January 1 and July 1 with the first interest payment due at the end of the period on July 1. The issue price of the bonds based on a 4% market rate of interest is $1,493,755. Prepare the amortization table for the first 2​ years, assuming Varden uses the​ straight-line method. ​(Round each calculation to the nearest whole number and then use the rounded value for each subsequent calculation in the​ table.)

 Date Cash Interest Straight-Line Interest Discount /Premium Amortization Carrying Value

January 1, 2018

July 1, 2018

January 1, 2019

July 1, 2019

January 1, 2020

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