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(1) On December 31, 2015, Randy Corp. issued $500,000 of 8% bonds, due in five years with interest payable annually on December 31. The market
(1) On December 31, 2015, Randy Corp. issued $500,000 of 8% bonds, due in five years with interest payable annually on December 31. The market rate of interest is 9%.
Assume the bonds were issued at $480,552. Prepare an amortization table for each of the five years, using the effective interest rate method.
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