Question
1/1/18 Company 5Z issues bonds with a par value of $1,000,000, they mature in 10 years, and pay 6% interest semiannually on 6/30 and 12/31.
1/1/18 Company 5Z issues bonds with a par value of $1,000,000, they mature in 10 years, and pay 6% interest semiannually on 6/30 and 12/31. The bonds are sold at a premium of 105% due to a contract rate that is more than the market rate. Amortization is straight line. When the interest payments are made, the premium on bonds payable is amortized by:
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Internal Control Anti Fraud Program Design For The Small Business
Authors: Steve Dawson
1st Edition
1119065070, 978-1119065074
