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Determining Financial Statement Balance wit the Effective-Interest Amortization of a Bond Discount Eagle Corporation issued $10,000,000, 6.5 percent bonds dated April 1, 2018. The market
Determining Financial Statement Balance wit the Effective-Interest Amortization of a Bond Discount Eagle Corporation issued $10,000,000, 6.5 percent bonds dated April 1, 2018. The market 31, 2021. Eagle's fiscal year ends on December 31. Required: 1. What was the issue price of these bonds? 2. Compute the percent, with interest paid each March 31. The bonds mature in three years, on March bond interest expense for fiscal year 2018. The company uses the effective-interest method of amortization. 3. 4. Wh Show how the bonds should be reported on the statement of financial position at December 31, 2018. at amount of interest expense will be recorded on March 31, 2019? Is this amount different fronm the amount of cash that is paid? If so, why
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