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On January 1, 2016, License New Kin issued $1,000,000 face value, 5-year bonds with a stated rate of 5% at an effective rate of 4%
On January 1, 2016, License New Kin issued $1,000,000 face value, 5-year bonds with a stated rate of 5% at an effective rate of 4% which brought in $1,044,913. Interest is paid semi-annually on July 1 and December 31. License New Inc. uses the effective-interest method of amortization. 2 Prepare the amortization table for the first 3 payment periods
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