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ch14 - Instructions(a Calculate the issue price of the...

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Name: __________________________ Problem chapter 14 1. Bond issue price and premium amortization. On January 1, 2011, Friedman Co. issued five-year bonds with a face value of $1,200,000 and a stated interest rate of 6%, payable semiannually on June 30 and December 31. The bonds were sold to yield 8%. Use table values from chapter 6:
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Unformatted text preview: Instructions (a) Calculate the issue price of the bonds. (b) Without prejudice to your solution in part (a), assume that the issue price was $1,120,000. Prepare the amortization table for 2011, assuming that amortization is recorded on interest payment dates. Page 1...
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