On January 1, 2021, Tennessee Harvester Corporation issued debenture bonds that pay interest semiannually on June 30 and December 31. Portions of the bond amortization schedule appear below:Payment Cash Payment Effective Interest Increase inBalance Outstanding Balance6,544,4321 316,000 327,222 11,222 6,555,6542 316,000 327,783 11,783 6,567,4373 316,000 328,372 12,372 6,579,8094 316,000 328,990 12,990 6,592,7995 316,000 329,640 13,640 6,606,4396 316,000 330,322 14,322 6,620,761~ ~ ~ ~ ~~ ~ ~ ~ ~~ ~ ~ ~ ~38 316,000 384,243 68,243 7,753,10239 316,000 387,655 71,655 7,824,75740 316,000 391,243 75,243 7,900,000Required:1. What is the face amount of the bonds
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On January 1, 2021, Tennessee Harvester Corporation issued debenture bonds that pay interest semiann...
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