Piazzi, Inc. sold $400,000 of its 9%, fiveyear bonds dated January 1, 2013, on May 1, 2013, for $393,000 plus accrued interest. Interest is paid on January 1 and July 1 and straight-line amortization is used.

Principles of Accounting Volume 1
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ISBN:9781947172685
Author:OpenStax
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Chapter13: Long-term Liabilities
Section: Chapter Questions
Problem 5EB: Haiku Inc. issued $600,000 of 10-year bonds with a stated rate of 11% when the market rate was 12%....
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Exhibit 14-8 Piazzi, Inc. sold $400,000 of its 9%, fiveyear bonds dated January 1, 2013, on May 1, 2013, for $393,000 plus accrued interest. Interest is paid on January 1 and July 1 and straight-line amortization is used.

 

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