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Exercise 10-22A (Algo) Effective interest amortization for a bond premium LO 10-7 On january 1,...

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Accounting

Exercise 10-22A (Algo) Effective interest amortization for a bond premium LO 10-7

On january 1, Year 1, Hart company issued bond with a face value of $116000 , a stated rate interest of 9 percent and a five year term to maturity. Interest is payable in cash on December 31 of each year.

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