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Business, 01.04.2021 20:10 prin30004

On January 1, Patterson Inc. issued $5,000,000, 9% bonds for $4,695,000. The market rate of interest for these bonds is 10%. Interest is payable annually on December 31. Patterson uses the effectiveinterest method of amortizing bond discount. At the end of the first year, Patterson should report bonds payable of:

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On January 1, Patterson Inc. issued $5,000,000, 9% bonds for $4,695,000. The market rate of interest...
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