On January 1, 2024, Morton Sales Company issued zero-coupon bonds with a face value of $5.3 million for cash. The bonds

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answerhappygod
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On January 1, 2024, Morton Sales Company issued zero-coupon bonds with a face value of $5.3 million for cash. The bonds

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On January 1, 2024, Morton Sales Company issued zero-couponbonds with a face value of $5.3 million for cash. The bonds maturein 15 years and were issued at a price of $1,920,985.
Required:
What will Morton Sales Company report on these bonds in itsDecember 31, 2024, balance sheet?
Note: Use tables, Excel, or a financial calculator.Round your effective interest rate to the nearest whole percent andfinal answer to the nearest wholedollar. (FV of $1, PV of$1, FVA of $1, PVA of $1, FVAD of$1 and PVAD of $1)
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