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Bonds issued at a discount and premium-effective interest method
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Wayman Corporation issued bonds twice during 2007. Transacations were as follows: 2007 Jan. 1 -Issued $2,000,000 of 9.2 percent, ten year bonds dated January 1, 2007, with interest payable on June 30 and December 31. The bonds were sold at 98.1, resulting in an effective interest rate of 9.5...
Accounting for bonds
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When bonds are sold at a premium and the effective interest method is used for amortization, at each subsequent interest payment date, the cash paid is View more questions Search
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