Question
Analyzing and Reporting Financial Statement Effects On January 1 of the current year, Arbor Corporation issued $800,000 of 20 year 11% bonds for $739,815 yielding
Analyzing and Reporting Financial Statement Effects
On January 1 of the current year, Arbor Corporation issued $800,000 of 20 year 11% bonds for $739,815 yielding a market (yield) rate of 12%. Interest is payable semiannually on June 30 and December 31.
Confirm the bond issue price.
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Accounting Principles
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
10th Edition
1119491630, 978-1119491637, 978-0470534793
