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Make an investment interest income

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Question - Mercer Corporation acquired $400,000 of Park Company's bonds on June 30, 2018, for $409,991.12. The bonds carry a 12% stated interest rate and pay interest semiannually on June 30 and December 31. The appropriate market interest rate is 11%, and the bonds are due June 30, 2021.

Required -

1. Make an investment interest income and premium amortization schedule, using the:

a. straight-line method

b. effective interest method

2. Make an investment interest income and premium amortization schedule, using the straight-line method.

Reference no: EM133144395

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