Grizzy inc issued 100000 worth of 10 five-year bonds at a, Financial Accounting

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Grizzy inc issued 100000 worth of 10 five-year bonds at a

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GRIZZY, INC. issued $100,000 worth of 10%, five-year bonds at a price of $108,111 when the market rate of interest was 8% (interest is payable semi annually). Calculate the amortization of the bond premium assuming the effective interest amortization method and prepare the entries to record the first two interest payments and amortization.

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Financial Accounting: Grizzy inc issued 100000 worth of 10 five-year bonds at a

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Financial Accounting: Grizzy inc issued 100000 worth of 10 five-year bonds at a

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