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Bringham Company issues bonds with a par value of $670,000. The bonds mature in 9 years and pay 10% annual

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Bringham Company issues bonds with a par value of $670,000. The bonds mature in 9 years and pay 10% annual interest.in semiannual payments. The annual market rate for the bonds is 12%.

1. Compute the price of the bonds as of their issue date. 

2. Prepare the journal entry to record the bonds' issuance. 

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Fundamental accounting principle

Fundamental accounting principle

ISBN: 978-0078025587

21st edition

Authors: John J. Wild, Ken W. Shaw, Barbara Chiappetta

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Posted Date: June 17, 2022 00:12:18
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