-On January 1,2014, Powell Corporation issued $600,000, 5%, 5-year bonds dated January 1, 2014, at 95. The bonds pay annual interest on January 1. The company uses the straight-line method of amortization and has a calendar year end.
-Grand Company issued $800,000, 10%, 20-year bonds on January 1, 2014, at 104. interest is payable annually on January 1. Grand uses the straight-line method of amortization and has a calendar year end.
-On January 1,2014, Powell Corporation issued $600,000, 5%, 5-year bonds dated January 1, 2014, at 95. The bonds pay annual interest on January 1. The company uses the straight-line method of amortization and has a calendar year end.-Grand Company issued $800,000, 10%, 20-year bonds on January 1, 2014, at 104. interest is payable annually on January 1. Grand uses the straight-line method of amortization and has a calendar year end.
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