Effective-interest method with an effective rate

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Teton corporation issued $600,000 of 7% bonds on november 1, 2014, for $644,636. The bonds were dated November 1, 2014, and mature in 10 years, with interest payable each may 1 and November 1. Teton uses the effective-interest method with an effective rate of 6%. Prepare Teton's December 31, 2014, adjusting entry

Reference no: EM131265353

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Effective-interest method with an effective rate : Teton corporation issued $600,000 of 7% bonds on november 1, 2014, for $644,636. The bonds were dated November 1, 2014, and mature in 10 years, with interest payable each may 1 and November 1. Teton uses the effective-interest method with an effectiv..

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