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Excercise 15-18 a-c Pharoah Company issued $275,000, 9%, 10-year bonds on January 1, 2020, for $293,452. This price resulted in an effective-interest rate of 8%
Excercise 15-18 a-c
Pharoah Company issued $275,000, 9%, 10-year bonds on January 1, 2020, for $293,452. This price resulted in an effective-interest rate of 8% on the bonds. Interest is payable annually on January 1. Pharoah uses the effective-interest method to amortize bond premium or discount.
I don't understand how to do the journal entries
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