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On January 1, 2020, Blossom Company sold 12% bonds having a maturity value of $800,000 for $860,652.59, which provides the bondholders with a 10%
On January 1, 2020, Blossom Company sold 12% bonds having a maturity value of $800,000 for $860,652.59, which provides the bondholders with a 10% yield. The bonds are dated January 1, 2020, and mature January 1, 2025, with interest payable December 31 of each year. Blossom Company allocates interest and unamortized discount or premium on the effective-interest basis.
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Intermediate Accounting IFRS Edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
2nd Edition
1118443969, 978-1118443965
