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Nathan Renick, Inc. issued $900,000 of 17%, 12-year bonds payable on January 1, 2024. The market interest rate at the date of issuance was

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Nathan Renick, Inc. issued $900,000 of 17%, 12-year bonds payable on January 1, 2024. The market interest rate at the date of issuance was 14%, and the bonds pay interest semiannually. (Click the icon to view Present Value of $1 table.) (Click the icon to view Future Value of $1 table.) Read the requirements (Click the icon to view Present Value of Ordinary Annuity of $1 table.) (Click the icon to view Future Value of Ordinary Annuity of $1 table.) Requirement 1. How much cash did the company receive upon issuance of the bonds payable? (Round to the nearest dollar.) (Use the factor tables provided with factors rounded to three decimal places. Round all currency amounts to the nearest dollar.) Upon issuance of the bonds payable, the company received $1,054,679 Requirement 2. Prepare an amortization table for the bond using the effective-interest method, through the first two interest payments. (Round to the nearest dollar.) Interest Carrying Cash Paid Expense Amortized Amount 01/01/2024 06/30/2024 12/31/2024

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