Question
BC Company issued $500,000 of 4%, 10-year bonds on January 1, 2010. Interest is to be paid semi-annually on December 31. The market rate at
BC Company issued $500,000 of 4%, 10-year bonds on January 1, 2010. Interest is to be paid semi-annually on December 31. The market rate at the time of the bond issue is 2%. ABC uses the effective interest method of amortization. What is the selling price of bonds?(Round your answer to zero decimal places)
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Advanced Financial Accounting
Authors: Richard Lewis, David Pendrill
7th Edition
0273658492, 978-0273658498
