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Calculate the issue price of the bonds

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Reference no: EM131641802

Question - 3 year Bonds are issued at face value of $100,000 on January 1, 2016, a stated interest rate of 8%, and market rate of 6%.

a. Calculate the issue price of the Bonds.

b. Prepare the schedule of amortization using the effective interest method.

c. Prepare journal entries of 1/1/2016 and 12/31/2016.

Reference no: EM131641802

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