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Ayayai Corp. issued $350,000, 6 %, 20-year bonds on January 1, 2017, for $312.921. This price resulted in an effective-interest rate of 7% on
Ayayai Corp. issued $350,000, 6 %, 20-year bonds on January 1, 2017, for $312.921. This price resulted in an effective-interest rate of 7% on the bonds. Interest is payable annually on January 1. Ayayai uses the effective-interest method to amortize bond premium or discount.
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Financial Accounting
Authors: Jeffrey Waybright, Liang Hsuan Chen, Rhonda Pyper
1st Canadian Edition
9780132147538, 132889714, 013214753X , 978-0132889711
