Question: On January 1 , 2 0 2 3 , Merna Enterprises issued 5 % bonds dated January 1 , 2 0 2 3 , with

On January 1,2023, Merna Enterprises issued 5% bonds dated January 1,2023, with a face amount of $30 million. The bonds mature in 2032(10 years). For bonds of similar risk and maturity, the market yield is 7%. Interest is paid semiannually on June 30 and December 31.

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