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National Orthopedics Companu issued 9 % bonds, dated January 1 , with a face amount of $ 4 0 0 , 0 0 0 on
National Orthopedics Companu issued bonds, dated January with a face amount of $ on January
The bonds mature on December years
For bonds of similar risk and maturity the market yield was
Interest is paid semiannually on June and December
Required:
Determine the price of the bonds at January
Prepare the journal entry to record their issuance by National on January
Prepare an amortization schedule that determines interest at the effective rate each period.
Prepare the journal entry to record interest on June
Prepare the appropriate journal entries at maturity on December
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