On September 1, 2014, Messner Corp. issued a $400,000, 15%, four-year bond. Interest is payable semi-annually beginning
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Required
a. Calculate the bond issue price assuming a market interest rate of 13.5% on the date of issue.
b. Using the effective interest method, prepare an amortization schedule similar to Exhibit 15.15.
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Related Book For
Fundamental Accounting Principles Volume II
ISBN: 978-1259066511
14th Canadian Edition
Authors: Larson Kermit, Jensen Tilly
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