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QUESTION
On June 30, 2017, Blossom Company issued $3,000,000 face value of 13%, 20-year bonds at $3,225,689, a yield of 12%. Blossom uses the...
On June 30, 2017, Blossom Company issued $3,000,000 face value of 13%, 20-year bonds at $3,225,689, a yield of 12%. Blossom uses the effective-interest method to amortize bond premium or discount. The bonds pay semiannual interest on June 30 and December 31.
