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on June 3 0 , , 2 0 2 1 the market interest rate is 8 % . Corporation issues 8 0 0 0 0

on June

30,, 2021

the market interest rate is

8 % .

Corporation issues

800000

11 %, 10 -

year bonds payable. The bonds pay interest on June

30

and December

31 .

The company amortizes bond premium using the

effective

-

interest method.

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