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E-Tech Initiatives Limited plans to issue $680,000, 10-year, 4.00 percent bonds. Interest is payable annually on December 31.

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Answer #1
Long-Term Liabilities :
Bonds Payable $680000
Premium on Bonds Payable $27200
Carrying Value $707200

*Issued at 104, so 4% of $680000 is $27200

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