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What is the amount of bonds payable

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Question - Renfro Company issued $300,000 of 8%, 10-year bonds at 102. Interest is paid annually, and the straight-line method is used for amortization. Assume that the market rate for similar investments is 7%. The bonds are issued on the date of the bonds. What is the amount of bonds payable?

Reference no: EM133091146

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