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Splish Brothers Electronics Ltd. issued $740,000 of 15-year, 8.0% bonds on January 1, 2025, when...

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Accounting

Splish Brothers Electronics Ltd. issued $740,000 of 15-year, 8.0% bonds on January 1, 2025, when the market interest rate was 7.0%. The cash received at the issuance of the bond was $808,050.57. Interest is payable semi-annually on July 1 and January 1. Splish Brothers has a December 31 year end.

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