At the beginning of 2017, the octo company issued 10% bonds with a face value of $3,000,000. these bonds mature in the five years, and interest is paid semiannually on june 30 and december 31. the bonds were sold for $2,779,200 to yield 12%. octo uses a calendar-year reporting period. using the effective-interest method of amortization, amount of interest expense that should be reported for 2017 is
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Comprehensive illustrative problem: mira's store on february 1 20a4 mica delaman opened astore that sells school supplies her main customer are the students and teachers of happy students school that is situated in front of her store. mira wanted to know the financial position of mira's store. mira knew you were studying accounting. so she asked for . 1. to start her business mira's opened a checking account in the name of mira's store . the statement of account from the bank shows that the checking account has a balance of 31,535 of december 31,20a4
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At the beginning of 2017, the octo company issued 10% bonds with a face value of $3,000,000. these b...
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