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On January 1, 2021, $1010000, 5-year, 5% bonds, were issued for $966918. The interest rate in effect when the bonds were issued was 6%.
On January 1, 2021, $1010000, 5-year, 5% bonds, were issued for $966918. The interest rate in effect when the bonds were issued was 6%. Interest is paid semi-annually on January 1 and July 1. What would be the amortized cost of the bonds on January 1, 2022? (Round intermediate calculations to 5 decimal places.)
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Intermediate Accounting Reporting and Analysis
Authors: James M. Wahlen, Jefferson P. Jones, Donald Pagach
2nd edition
9781305727557, 1285453824, 9781337116619, 130572755X, 978-1285453828
