He first day of its fiscal year ebert company issued, Financial Accounting

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He first day of its fiscal year ebert company issued

On January 1, the first day of its fiscal year, Ebert Company issued $12,500,000 of 10-year, 9% bonds to finance its operations. Interest is payable semiannually. The bonds were issued at a market (effective) interest rate of 11%, resulting in Ebert Company receiving cash of $11,006,214.

The company uses the interest method is?

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Financial Accounting: He first day of its fiscal year ebert company issued

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