"You Decide" Essay
You are the Chief Financial Officer of Kyoto Mining Company. Your company issued $10,000,000 in bonds payable at the beginning of the year at a sizable discount. You are getting ready to make your December 31 adjusting entries. The owners, who are worried about their tax bill for the year, have asked you to select whichever method of amortizing bond discounts that maximizes interest expense.
Respond to the owners.
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