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On January 1, 2018, when the market rate of interest was 12%, Habs Company issued five-year bonds with a maturity value of $750,000. The bonds

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On January 1, 2018, when the market rate of interest was 12%, Habs Company issued five-year bonds with a maturity value of $750,000. The bonds have a 10% stated rate and pay interest semi-annually on July 1 and December 31. Requirements: 1. Calculate the bond discount as of the date of issue. 2. Calculate the bond discount balance as of January 1, 2018

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