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On January 1, 2022, Ayayai Company issued $3,300,000 face value, 7%, 10-year bonds at $3,542,868. This price resulted in a 6% effective-interest rate on the
On January 1, 2022, Ayayai Company issued $3,300,000 face value, 7%, 10-year bonds at $3,542,868. This price resulted in a 6% effective-interest rate on the bonds. Ayayai uses the effective interest method to amortize bond premium or discount. The bonds pay annual interest on each January 1. Your answer is partially correct. Show the proper long-term liabilities balance sheet presentation for the liability for bonds payable at December 31, 2023. (Round answers to 0 decimal places, e.g. 125.) AYAYAI COMPANY Balance Sheet (Partial) December 31, 2023 erm Liabilities dis Payable $ 3300000 Premium on Bonds Payable 211466.40 $ $ 3511466.4
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