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ClassCo. issues $1100,000 of 5% bonds due in 6 years with interest payable at each...

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Accounting

ClassCo. issues $1100,000 of 5% bonds due in 6 years with interest payable at each year-end from sale date. The current market rate of interest for bonds of similar risk is 6.2%. A] What proceeds did ClassCo get from sale of these Bonds? B] Show amortization schedule [table] for Bond Discount or Premium C] What was the ClassCo JE at sale of bonds [assume no other expenses for sale]? D] What was ClassCo JE for first year after sale?

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