jenkinjack7654
jenkinjack7654
10.04.2020 • 
Business

On January 1, 2018 when the effective interest rate was 14%, a company issued bonds with a maturity value of $1,000,000. The stated rate of interest is 12%, the bonds pay interest semi-annually and sold for $893,640. The amount of bond discount amortized on July 1, 2018 is approximately:

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