=+EX 14-20 Amortize discount by interest method b. $2,719,776 Gary Miller Corporation wholesales bike parts to
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=+EX 14-20 Amortize discount by interest method
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b. $2,719,776 Gary Miller Corporation wholesales bike parts to bicycle manufacturers. On March 1, 2010, Gary Miller Corporation issued $8,000,000 of five-year, 14% bonds at an effective interest rate of 12%, receiving cash of $8,588,850. Interest is payable semiannually. Gary Miller Corporation’s fiscal year begins on March 1.
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