Question
Bonds with a stated interest rate of 8% and a face value totaling $525,000 were issued for $535,500 on January 1, 2018, when the market
Bonds with a stated interest rate of 8% and a face value totaling $525,000 were issued for $535,500 on January 1, 2018, when the market interest rate was 7%. The company uses effective-interest bond amortization. Determine the carrying valur of the bonds at December 31,2019. Round your answer to nearest whole dollar.
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Accounting The Basis For Business Decisions
Authors: Robert F. Meigs, Jan R. Williams, Susan F Haka, Mark S. Bettner
International 11th Edition
007115809X, 978-0071158091
