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On January 1, 2022, Oriole Company issued $2,360,000 face value, 9%, 10-year bonds at $2,518,358. This price resulted in a 8% effective-interest rate on
On January 1, 2022, Oriole Company issued $2,360,000 face value, 9%, 10-year bonds at $2,518,358. This price resulted in a 8% effective-interest rate on the bonds. Oriole uses the effective-interest method to amortize bond premium or discount. The bonds pay annual interest on each January 1.
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Accounting Information Systems basic concepts and current issues
Authors: Robert Hurt
3rd edition
130855849X, 978-1308558493, 78025338, 978-0078025334
