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On January 1, 2020, Sandhill Corporation issued $2,340,000 face value, 5%, 10-year bonds at $2,167,774. This price resulted in an effective-interest rate of 6% on
On January 1, 2020, Sandhill Corporation issued $2,340,000 face value, 5%, 10-year bonds at $2,167,774. This price resulted in an effective-interest rate of 6% on the bonds. Lock uses the effective-interest method to amortize bond premium or discount. The bonds pay annual interest on January 1. 
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International Accounting
Authors: Radebaugh
4th Edition
0471136646, 9780471136644
