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a. What does it mean when a bond is issued at a premium or a discount?

b. Discuss how the amortization of the discount or premium get reported on the income statement and the balance sheet?

c. Your company has a pension plan. At the end of the year your company reports an ABO of $250,000, PBO of $300,000 and Plan Assets of $230,000 for the year ended December 31, 2011.

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