Dracut issued 100 000 of 8% 10 yr bonds payable on January 1 20x0 when...
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Accounting
Dracut issued 100 000 of 8% 10 yr bonds payable on January 1 20x0 when the market interest rate was 10%. The company pays interest annually at year end.
- Create spreadsheet model to prepare schedule to amortize the bond. Use effective interest method of amortization. (round to nearest dollar)
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