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Complete the bonds were issued at face value

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Reference no: EM132475258

On January 1, 2019, Lowre Communications issued $100,000 of 6%, 20-year bonds at $89,322 when the FMV was 7%. Interest is payable semiannually each June 30th and December 31st.

Required:

Question 1: Complete the Answer Sheet for Bonds assuming the following.

Point a) The bonds were issued at face value.

Point b) The bonds were issued when the market rate of interest was 7% and sold for $89,322

Reference no: EM132475258

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