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Business, 26.08.2020 01:01 CoreyHammond6247

On November 1, 2018, Mason Corp. sold $700,000 of its 10% term bonds dated October 1, 2018. The bonds were sold to yield 8%, with total proceeds of $800,000 plus accrued interest. Interest is paid every April 1 and October 1. What amount should Mason report for interest payable in its December 31, 2018 balance sheet?

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On November 1, 2018, Mason Corp. sold $700,000 of its 10% term bonds dated October 1, 2018. The bond...

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