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Question: partial question7 1030 pts on january 1 abc company issued...

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Partial Question7 10/30 pts On January 1, ABC Company issued $1,000,000, 5-year, 12% bonds for $1,037,690. If the bonds pay interest on June 30 and December 31 and if the effective rate of interest is 11%, determine the following: The interest paid on June 30 $60,000 The amount of premium amortized on June 30, using the straight-line method (round to the nearest dollar) $3,690 The accrued interest payable on December 31 $60,000 Answer 1: $60,000 Answer 2:

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