A bond is issued on January 1, 2019 when the market rate was 4% with...
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Accounting
A bond is issued on January 1, 2019 when the market rate was 4% with the following terms: Par: $100,000 Coupon Rate: 6% (Paid Annually) Maturity Date: December 31, 2023 The effective interest rate method is used What is the balance in the Bonds Payable account after the interest is paid on December 31, 2020? $108,904 $107,260 $105,550 $94,654 $106,005
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