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On March 1, 2020, an Omani company issued OMR 500,000, 10-year, 12% percent bonds at 103(3% above PAR). The bonds are dated January 1, 2020.
On March 1, 2020, an Omani company issued OMR 500,000, 10-year, 12% percent bonds at 103(3% above PAR). The bonds are dated January 1, 2020. Interest is payable 1st January and 1 July. The bonds will be outstanding for 9 years and 10 months or 118 months. a. Record appropriate journal entries. b. Calculate carrying value of Bonds payable as on 31/12/2020
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