On January 1, 2021, Tennessee Harvester Corporation issued debenture bonds that pay interest semiannually on June 30 and December 31. Portions of the bond amortization schedule appear below: Payment Cash Payment Effective Interest Increase in Balance Outstanding Balance 6,496,785 1 243,000 259,871 16,871 6,513,656 2 243,000 260,546 17,546 6,531,202 3 243,000 261,248 18,248 6,549,450 4 243,000 261,978 18,978 6,568,428 5 243,000 262,737 19,737 6,588,165 6 243,000 263,527 20,527 6,608,692 ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ 38 243,000 315,009 72,009 7,947,224 39 243,000 317,889 74,889 8,022,113 40 243,000 320,887 77,887 8,100,000 Required: 1. What is the face amount of the bonds
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On January 1, 2021, Tennessee Harvester Corporation issued debenture bonds that pay interest semiann...
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