Question: Pharaoh Inc, issues $ 3 , 0 0 0 , 0 0 0 , 5 year, 1 4 % bonds at 1 0 4 ,

Pharaoh Inc, issues $3,000,000,5 year, 14% bonds at 104, with interest payable annually on january 1. The straight- line method is used to amortize bond premium.

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