Effective interest method of amortization

Reference no: EM133542251

Question: CAL corporation wished to raise money for a series of upcoming projects. on july 1, 2023, the company issued bonds with a face value o $5,645,000 due in 5 years, paying interest at a face rate of 9.0% on january 1 and july 1 each year. the bonds were issued to yield 7%. CAL used the effective interest method of amortization for bond discounts or premiums. the company's year-end was september 30

Reference no: EM133542251

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