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Accounting question. Please help and show work. thanks. On January 1, 2019, Tonika Company issued a five-year, $10,000, 8% bond. The interest is payable annually
Accounting question. Please help and show work. thanks.
On January 1, 2019, Tonika Company issued a five-year, $10,000, 8% bond. The interest is payable annually each December 31. The issue price was $9,611 based on an 9% effective interest rate. Tonika uses the effective interest amortization method. The December 31, 2020 book value after the December 31, 2020 interest payment was made is closest to: Multiple Choice O $9,605, O $9,747. $9,611 O $9,676. OStep by Step Solution
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