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On january 1, 2022 , shelly Corporation issued $120,000 par value, 5-year, zero-coupon bonds. The...

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Accounting

On january 1, 2022 , shelly Corporation issued $120,000 par value, 5-year, zero-coupon bonds. The market rate of interest on the date of the bond issue was 7% . The company's fiscal year ends on december 31. Determine the issue price of the debt.

Prepare the amortization table for the bond issue through

January

1,

2025,

assuming that

Shelly

uses the effective interest rate method of amortization.

c.

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