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On January 1, 2021, Sweetwater Inc. issued $3 million of 5 year bonds at an 10% stated interest rate to be paid annually. Sweetwater Inc.
On January 1, 2021, Sweetwater Inc. issued $3 million of 5 year bonds at an 10% stated interest rate to be paid annually. Sweetwater Inc. issued the bonds at 103 since the market rate of interest was 9%. What would Sweetwater Inc. report as the carrying value of the bond for the year ending December 31, 2022 (round to the nearest dollar) Step by Step Solution
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Accounting Principles
Authors: Paul D Kimmel, Donald E Kieso Jerry J Weygandt
IFRS global edition
1-119-41959-4, 470534796, 9780470534793, 9781119419594 , 978-1119419617
