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Saturday, 14 April 2012

Able Co. issued a 6 year $100,000 bond with a stated rate of 8%. Interest

Able Co. issued a 6 year $100,000 bond with a stated rate of 8%. Interest payments are made semiannually. The market rate (or effective rate) for these bonds is 12%. Calculate the proceeds on the bond. Is this bond going to sell at a premium or discount? Show the journal entries for the first year of the bond.
Posted by Smith James at 04:59
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