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On July 1, 2021, Free Compnay issued for $438,000, 500 of its *%, $1000 bonds. The market rate when the bonds were issued was
On July 1, 2021, Free Compnay issued for $438,000, 500 of its *%, $1000 bonds. The market rate when the bonds were issued was 10%. The bonds are dated July 1, 2021. The bonds mature in 10 years. Interest is payable semiannually on January 1 and July 1. Using the effective interest method, how much of the bond discount should be amortized on December 31, 2021? Answer:
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Accounting Principles Volume 2
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Warren, Lori Novak
8th Canadian Edition
1119502551, 1-119-50255-5, 978-1119502555
