VIII. On 1/1/23ABC Co issues $100,000 of 8%,10 year bonds. The bonds pay interest each...
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VIII. On 1/1/23ABC Co issues $100,000 of 8%,10 year bonds. The bonds pay interest each 12/31. They are sold for $87,711, which represents a yield or market or effective rate of 10%. Provide the entry to record interest for 12/31/23 assuming ABC uses the EFFECTIVE INTEREST method of amortization. VIII. On 1/1/23ABC Co issues $100,000 of 8%,10 year bonds. The bonds pay interest each 12/31. They are sold for $87,711, which represents a yield or market or effective rate of 10%. Provide the entry to record interest for 12/31/23 assuming ABC uses the EFFECTIVE INTEREST method of amortization
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