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On July 1, 2020 Pina Limited issued bonds with a face value of $1,070,000 due in 20 years, paying interest at a face rate
On July 1, 2020 Pina Limited issued bonds with a face value of $1,070,000 due in 20 years, paying interest at a face rate of 9% on January 1 and July 1 each year. The bonds were issued to yield 11%. The company's year-end was September 30. The company used the effective interest method of amortization. Click here to view the factor table PRESENT VALUE OF 1. Click here to view the factor table PRESENT VALUE OF AN ANNUITY OF 1.
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Financial Accounting
Authors: W. Steve Albrecht, James D. Stice, Earl K. Stice
10th edition
324645570, 978-0324645576
