Record the corporation accepts cash for bonds

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Bond issued at a premium

A Corporation issues bonds with a $100,000 par value, a 10% annual interest rate, annual interest payments and a 5 year life. The market rate for the bond is 8%. This corporation uses the straight-line method to amortize bond premiums.

Problem 1: Record the Corporation accepts cash for its bonds.

Reference no: EM132835831

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