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On January 1, 2020, Delaney Corporation issued five-year, 4% bonds payable with a face value of $3,000,000. The bonds were issued at 88 and pay
On January 1, 2020, Delaney Corporation issued five-year, 4% bonds payable with a face value of $3,000,000. The bonds were issued at 88 and pay interest on January 1 and July 1. Delaney amortizes bond discounts using the straight-line method. On December 31, 2022, Delaney retired the bonds early by purchasing them at a market price of 93. The company's fiscal year ends on December 31.
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