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Need Solution!! On January 1 Year 1 worthy Co. issued $1,000,000 of bonds payable. The bonds mature in five years on December 31 Year 5,

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On January 1 Year 1 worthy Co. issued $1,000,000 of bonds payable. The bonds mature in five years on December 31 Year 5, and pay 9% interest once a year on December 31 The issue sold for $894857 to yield 12% worthy uses the effective interest method. What is the amount of the liability at January 1 Year 1? a. $891,857 b. $1,000,000 C. $1,090,000 d. None of the answers are within $100 of the correct

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