Hoboken corporation issued 649000 8 10-year bonds on, Ask an Expert

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Hoboken Corporation issued $649,000, 8%, 10-year bonds on January 1, 2012, for $606,786. This price resulted in an effective-interest rate of 9% on the bonds. Interest is payable semiannually on July 1 and January 1. Hoboken uses the effective-interest method to amortize bond premium or discount.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9956561

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