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On January 1, 2010, Morgan Company acquires $300,000 of Nicklaus, Inc., 9% bonds at a price of $278,384 The interest is payable each December 31, and...

On January 1, 2010, Morgan Company acquires$300,000 of Nicklaus, Inc., 9%bonds at a price of$278,384 The interest is payable each December 31,and the bonds mature December 31, 2012. The investment will provide Morgan Company a 12%yield. The bonds are classified as held-to-maturity."(a) Prepare a 3-year schedule of interest revenue and bond discount amortization, applying thestraight-line method."

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