On January 1, 2019, a company issued $401,200 of 10-year, 12% bonds. The interest is...
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Accounting
On January 1, 2019, a company issued $401,200 of 10-year, 12% bonds. The interest is payable semi-annually on June 30 and December 31. The issue price was $451,198 based on a 10% market interest rate. The effective-interest method of amortization is used. What is the book value of the bond liability as of June 30,2019
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