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On June 1, 2023, JetCom Inventors Inc. issued a $630,000 8%, three-year bond. Interest is to be paid semiannually beginning December 1, 2023. Required:
On June 1, 2023, JetCom Inventors Inc. issued a $630,000 8%, three-year bond. Interest is to be paid semiannually beginning December 1, 2023. Required: a. Calculate the issue price of the bond assuming a market interest rate of 9%. (Do not round intermediate calculations. Round the final answer to the nearest whole dollar.) Issue price of the bond b. Using the effective interest method, prepare an amortization schedule. (Do not round intermediate calculations. Round the finel answers to the nearest whole dollar. Enter all the amounts as positive values.) Period Ending Cash Interest Paid Period Interest Expensel Discount Unamortized Amort Discount Carrying Value June 1/23 Dec 1/23 June 1/24 Dec 1/24 June 1/25 Dec 1/25 June 1/26 Totals
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