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2. On June 30, 2018 the market rate of interest is 9%. Ramsey Corporation issues$550,000 of 12%, 20 year bonds payable at $701,813. The bonds

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2. On June 30, 2018 the market rate of interest is 9%. Ramsey Corporation issues$550,000 of 12%, 20 year bonds payable at $701,813. The bonds pay interest on June 30 and December 31. The company amortizes bond premium using the effective interest method

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