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Accounting Amortization Method Question
On March 1, 2009, five-year bonds are sold for $508,026 that have a face value of $500,000 n an interest rate of 10%. Interest is paid semi-annually on March 1 and September 1. Using the straight-line amortization method, prepare the borrower's journal entries on
- March 1, 2009 - September 1, 2009 - December 31, 2009 - March 1, 2010 |
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