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When Patey Pontoons issued 6% bonds on January 1, 2016, with a face amount of $600,000, the market yield for bonds of similar risk and
When Patey Pontoons issued 6% bonds on January 1, 2016, with a face amount of $600,000, the market yield for bonds of similar risk and maturity was 7%. The bonds mature December 31, 2019 (4 years). Interest is paid semiannually on June 30 and December 31. For this Project, you are to prepare a amortization schedule for the 20 year life of the bond.
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