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Assume that, on January 1, Austin Incorporated issued $2,400,000, 5% bonds t 102.3. The bonds are five-year bonds, with interest payments each June 30th and
Assume that, on January 1, Austin Incorporated issued $2,400,000, 5% bonds t 102.3. The bonds are five-year bonds, with interest payments each June 30th and December 31st. The company uses straight-line amortization. (Round amounts to the nearest whole dollar throughout.) (1) Indicate how much the company received at issuance. when the bonds payable were issued. Austin received $ (2) Indicate how much the company will pay back at maturity. At maturity, Austin must pay back $ (3) Indicate the amount of interest the company will pay every six months. Austin will pay interest of $ each six months. (4) Indicate the amount of interest expense the company will report every six months. of interest expense each six months. Austin will report S
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