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On January 1, Bramble Corp. issued $6200000,9% bonds for $5895000. The market rate of interest for these bonds is 10%. Interest is payable annually on
On January 1, Bramble Corp. issued $6200000,9% bonds for $5895000. The market rate of interest for these bonds is 10%. Interest is payable annually on December 31. Bramble uses the effective-interest method of amortizing bond discount. At the end of the first year, Bramble should report unamortized bond discount of $273500 $246050. $243000 $262500
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