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Fiona Inc issued $750,000, 8%, 10-year bonds on December 31, 2018, for $656,541 cash. The current market rate is 10%. The corporation uses the effective
Fiona Inc issued $750,000, 8%, 10-year bonds on December 31, 2018, for $656,541 cash. The current market rate is 10%. The corporation uses the effective interest amortization method. Interest is payable semiannually on June 30 and December 31.
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