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on January 1, 2017, Fleetwood Inc. issued bonds with a face amount of $25 million and a stated interest rate of 8%. The bonds mature
on January 1, 2017, Fleetwood Inc. issued bonds with a face amount of $25 million and a stated interest rate of 8%. The bonds mature in 10 years and pay interest semiannually on ene 30 and December 31 of each year. The market rate of interest on January 1, 2017, for bonds of this type was 6%. Fleetwood closes its books on December 31. Required: ys illanss kamte At what price were the bonds issued? effective interest method, prepare an amortization schedule showing interest amortization, and bond carrying value for each of the first four semiannual inter- ex pense est payment periods. Journal entries to record the first four semiannual interest payments. would the bonds be shown on Fleetwood's December 31, 2017, balance sheet and its December 31, 2018, balance sheet
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