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Myriad Solutions, Inc., issued 10% bonds, dated January 1, with a face amount of $400...

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Accounting

Myriad Solutions, Inc., issued 10% bonds, dated January 1, with a face amount of $400 million on January 1, 2018, for $315,248,200. The bonds mature on December 31, 2027 (10 years). For bonds of similar risk and maturity the market yield is 14%. Interest is paid semiannually on June 30 and December 31. Required: Complete the table below to calculate the amounts related to the bonds that Myriad would report in its financial statements. Indicate the amounts reported on the financial statements below for the year ending December 31, 2018.

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