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How much should the bond discount be reduced

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Question: On January 1, 2017, Sandro Corporation issued $500,000 of its 8% bonds for $467,479. The bonds were priced to yield 9%. The bonds are dated January 1, 2017, and mature on December 31, 2026. Interest is payable semiannually on June 30 and December 31. If the effective interest method is used, by how much should the bond discount be reduced for the 6 months ended June 30, 2017?

Reference no: EM131759565

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