Method to amortize bond premium of discount

Reference no: EM13121268

On june 30, 2012, mackes company issued 5,000,000 face value of 13%, 20 year bonds at $5,376,150, a yield of 12%. Mackes uses the effective-interest method to amortize bond premium of discount. the bonds pay semiannual interest on june 30 and december 31.

Reference no: EM13121268

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