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QUESTION
Exercise 1 On June 30, 2017, Layton, Inc. sold $1,200,000 (face value) of bonds.
Exercise 1
On June 30, 2017, Layton, Inc. sold $1,200,000 (face value) of bonds. The bonds are dated June 30, 2017, pay interest semi-annually on December 31 and June 30, and will mature on June 30, 2020. The following schedule was prepared by the accountant for 2017:
Semi-annual Interest Period -Dec 31, 2017
