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On January 1, 2019, Tonika Company issued a six-year, $10,000, 9% bond. The interest is payable annually each December 31. The issue price was $9,565

On January 1, 2019, Tonika Company issued a six-year, $10,000, 9% bond. The interest is payable annually each December 31. The issue price was $9,565 based on an 10% effective interest rate. Tonika uses the effective-interest amortization method. The December 31, 2020 book value after the December 31, 2020 interest payment was made is closest to: Multiple Choice $9,565. ( $9,622. $9,560. $9,684

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