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Nordic company sold on June 30 2017 4000000 20year bonds paying a nominal interest rate of 65 percent The bonds were issued at 1057344 percent

Nordic company sold on June 30 2017 4000000 20year bonds paying a nominal interest rate of 65 percent The bonds were issued at 1057344 percent with a yield of 6 percent The bonds pay annual interest on June 30 The company uses the effective interest method and its fiscal year ends on December 31

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Answer 1 In the books of Ashraf Ltd Date Account Titles Debit Credit June 30 2017 Cash 4229376 Premi... blur-text-image

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