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Chapter 14 Long-Term Liabilities A company issues $16,300,000, 5.8%, 20-year bonds to yield 6% on...

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Accounting

Chapter 14 Long-Term Liabilities

A company issues $16,300,000, 5.8%, 20-year bonds to yield 6% on January 1, 2017. Interest is paid on June 30 and December 31. The proceeds from the bonds are $15,923,229. Using effective-interest amortization, what will the carrying value of the bonds be on the December 31, 2017 balance sheet?

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