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Biology, 27.11.2019 02:31 stmy1969

The merchant company issued 10-year bonds on january 1. the 15% bonds have a face value of $100,000 and pay interest every january 1 and july 1. the bonds were sold for $117,205 based on the market interest rate of 12%. merchant uses the effective interest method to amortize bond discounts and premiums. on july 1 of the first year, merchant should record interest expense (round to the nearest dollar)

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The merchant company issued 10-year bonds on january 1. the 15% bonds have a face value of $100,000...
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