Question
1.On June 30, 2018, Hardy Corporation a purchased $6 million note receivable with a 8% coupon rate for $6.2 million.The notes are dated June 30,
1.On June 30, 2018, Hardy Corporation a purchased $6 million note receivable with a 8% coupon rate for $6.2 million.The notes are dated June 30, 2018, and mature on June 30, 2030. Interest is payable semiannually on December 31 and July 1.If the effective interest method is used, what is the book value of the note receivable on June 30, 2019 (round answer to nearest thousand)?
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Integrated Accounting
Authors: Dale A. Klooster, Warren Allen, Glenn Owen
8th edition
1285462726, 1285462721, 978-1285462721
