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Business, 30.05.2020 22:01 joseroblesrivera123

The School District issues $10 million in bonds on January 1, 2021 that pay interest semi-annually on June 30 and December 31. A portion of the bond amortization schedule appears below:

Date Cash Paid Interest Expense Increase in Carrying Value Carrying Value

01/01/2021 $8,800,000

06/30/2021 $400,000 $440,000 $40,000 8,840,000

12/31/2021 400,000 442,000 42,000 8,882,000

Required:

1. By analyzing this bond amortization schedule, one can determine that the bonds were issued at .

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Answers: 1

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