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Were the bonds issued at a premium or discount

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Question - Larkspur Corporation issued $500,000 of 4% percent, 10-year bonds on January 1, 2021. Interest is paid annually, and the straight-line method is used to amortize premium or discount.

If the bonds were issued at a price of 106, how much cash was received?

What is the amount of the annual interest payment?

Were the bonds issued at a premium or discount?

What was the carrying value of the bonds at the time of issue?

How much premium or discount is amortized at the time of each interest payment?

Reference no: EM132935903

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