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During 2016 and 2017, Agatha Corp. completed the following transactions relating to its bond issue. The corporation's fiscal year is the calendar year. 2016 Jan.

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During 2016 and 2017, Agatha Corp. completed the following transactions relating to its bond issue. The corporation's fiscal year is the calendar year. 2016 Jan. 1 Issued $360,000 of 10-year, 7 present bonds for $354,000. The annual cash payment for interest is due on December 31. Dec. 31 Recognized interest expense, including the straight-line amortization of the discount, and made the cash payment for interest. Dec. 31 Closed the interest expense account. 2017 Dec 31 Recognized interest expense, including the straight-line amortization of the discount, and made the cash payment for interest Dec. 31 Closed the interest expense account. When the bonds were issued, was the market rate of interest more or less than the stated rate of interest? Less More It Agatha had sold the bonds at their face amount, what amount of cash would Agatha have received

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