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On January 1, Bridgeport Inc. issued $5019000,9% bonds for $4763000. The market rate of interest for these bonds is 10%. Interest is payable annually on
On January 1, Bridgeport Inc. issued $5019000,9% bonds for $4763000. The market rate of interest for these bonds is 10%. Interest is payable annually on December 31 . Bridgeport uses the effective-interest method of amortizing bond discount. At the end of the first year, Bridgeport will report a carrying value of the bonds payable of $4787590. $231410. $4788600. $4813190
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