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Question - On January 1, Kovar Company issued and sold a $400,000, 7%, 10 year bond payable, and received proceeds of $396,000. Interest is payable each June 30 and December 31. The company uses the straight line method to amortize the discount. Compute the carrying value of the bonds immediately after the second interest payment?
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A company just starting in business purchased three merchandise inventory items at the following prices. First purchase $80; Second purchase $95; Third purchase $85. If the company sold two units for a total of $240 and used FIFO costing, the gros..
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