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On January 1, Oriole Corporation issued $4100000,14%, 5-year bonds with interest payable on December 31 . The bonds sold for $4425000. The market rate of
On January 1, Oriole Corporation issued $4100000,14%, 5-year bonds with interest payable on December 31 . The bonds sold for $4425000. The market rate of interest for these bonds was 12%. On the first interest date, using the effective-interest method, the debit entry to Interest Expense is for $492000.$509000.$574000$531000
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