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Question
on january 1, weatherholt inc. issued $3,000,000, 9% bonds for $2,817,000. the market rate of interest for these bonds is 10%. interest is payable annually on december 31. jean loptein uses the effective-interest method of amortizing bond discount. at the end of the first year, weatherholt should report unamortized bond discount of
a.$164,700
b.$171,300
c.$154,830
d.$153,000
Answer
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