Question
A company issues $10,000,000, 7.8%, 20-year bonds to yield 8% on January 1, 2013. Interest is paid on June 30 and December 31. The proceeds
A company issues $10,000,000, 7.8%, 20-year bonds to yield 8% on January 1, 2013. Interest is paid on June 30 and December 31. The proceeds from the bonds are $9,802,072. Using straight-line amortization, what is the carrying value of the bonds on December 31, 2016?
a. $9,845,115
b. $9,870,311
c. $9,841,658
d. $9,831,761
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Financial Accounting
Authors: Jr. Belverd E. Needles, Marian Powers
9th Edition
0547070020, 978-0547070025
