E14-6B (Amortization Schedules—Straight-Line) Clark Company sells 8% bonds having a maturity value of $5,000,000 for $5,421,236. The bonds are dated January 1, 2014, and mature January 1, 2019. Interest is payable annually on January 1. Instructions Set u

E14-6B (Amortization Schedules—Straight-Line) Clark Company sells 8% bonds having a maturity value of $5,000,000 for $5,421,236. The bonds are dated January 1, 2014, and mature January 1, 2019. Interest is payable annually on January 1.

Instructions

Set up a schedule of interest expense and premium amortization under the straight-line method.