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Determine the balance sheet presentation of the bonds

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Reference no: EM131967104

Question - Amortization of Discount

Stacy Company issued five-year, 10% bonds with a face value of $10,000 on January 1, 2017. Interest is paid annually on December 31.

The market rate of interest on this date is 12%, and Stacy Company receives proceeds of $9,279 on the bond issuance.

How does this entry affect the accounting equation?

Determine the balance sheet presentation of the bonds for December 31, 2019.

Reference no: EM131967104

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