Bates Company issued $1,000,000, 12-year bonds and agreed to make annual sinking fund deposits of $60,000. The
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Bates Company issued $1,000,000, 12-year bonds and agreed to make annual sinking fund deposits of $60,000. The deposits are made at the end of each year into an account paying 6% annual interest. What amount will be in the sinking fund at the end of 12 years?
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Related Book For 
Financial Accounting with International Financial Reporting Standards
ISBN: 978-1119504306
4th edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
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