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Force company issued 2000000 of 3 10-year bonds at 98 14

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Force Company issued $2,000,000 of 3%, 10-year bonds at 98 1/4. Interest is paid annually and the straight-line method is used for amortization.

a. What amount was received for the bonds?

b. What is the amount of discount amortized each year?

c. How much interest is expensed each year?

d. How much interest is paid each year?

e. What is the carrying value of the bonds after the first interest payment?

Reference no: EM13571275

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