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On July 1, 2016, Fisher Company issued 9% bonds in the face amount of $5,000,000, which...

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Accounting

On July 1, 2016, Fisher Company issued 9% bonds in the faceamount of $5,000,000, which mature on July 1, 2022. The bonds wereissued for $4,782,217 to yield 10%. Fisher uses theeffective-interest method of amortizing bond discount. Interest ispayable annually on June 30. At June 30, 2019, the unamortized bonddiscount should be

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3.7 Ratings (535 Votes)
At June 30 2019 the unamortized bond discount should be 124369 Working Step1Calculation of discount on bonds payable Par Value 5000000 Less Issue    See Answer
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