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Question - Corp issued $1,000,000 of 6%, 5 year bonds on 1/1/18 for $918,887. The market rate (yield) is 8%. The bonds are dated 1/1/18. The bonds pay interest semiannually on 7/1 and 1/1. Corp uses effective interest amortization. Amortization table through 7/1/19 and record the entries indicated. Record payment of interest on 7/1/18. Record accrual interest on 12/31/18. Record interest payment on 1/1/19.

Reference no: EM132593145

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