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Family Candies issued $340,000 of 8%, five-year bonds on January 1,2020 , when the market interest rate was 12%. The company pays interest annually at
Family Candies issued $340,000 of 8%, five-year bonds on January 1,2020 , when the market interest rate was 12%. The company pays interest annually at year-end. The issue price of the bonds was $290,975. Requirement Create a spreadsheet model to prepare a schedule to amortize the bonds. Use the effective-interest method of amortization. Round to the nearest dollar
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