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On January 1, Jorge Inc. issued $3,000,000, 8% bonds for $2,817,000. The market rate of interest for these bonds is 9%. Interest is payable annually on December 31. Jorge uses the effective-interest method of amortizing bond discount. At the end of the first year, Jorge should report unamortized bond discount of:
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On January 1, Jorge Inc. issued $3,000,000, 8% bonds for $2,817,000. The market rate of interest for...
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