Question
On July 1, 2021, Crane Corp. issued $4,080,000 of 10-year, 5% bonds at $4,413,569. This price resulted in a 4% market interest rate on the
On July 1, 2021, Crane Corp. issued $4,080,000 of 10-year, 5% bonds at $4,413,569. This price resulted in a 4% market interest rate on the bonds. The bonds pay semi-annual interest on July 1 and January 1, and Crane has a December 31 year end.
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Audit Guide Audit Sampling
Authors: AICPA
2nd Edition
195068833X, 978-1950688333
