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Cole Inc. prepares the following effective interest amortization table for its bonds payable. Interest Payment Date Cash Payment Interest Decrease in Book Amount Expense
Cole Inc. prepares the following effective interest amortization table for its bonds payable. Interest Payment Date Cash Payment Interest Decrease in Book Amount Expense Discount Discount Value Dec 31, 2021 $840,000 $911,169 Dec 31, 2022 $840,000 $916,151 $71,169 $76,151 $835,982 $912,133 $13,087,867 $13,164,018 Dec 31, 2023 $840,000 $921,481 Dec 31, 2024 $840,000 $927,185 $81,481 $87,185 $667,316 $754,501 $13,245,499 $13,332,684 Dec 31, 2025 $840,000 $933,288 $93,288 $574,028 $13,425,972 Dec 31, 2026 $840,000 $939,818 $99,818 $474,210 $13,525,790 Dec 31, 2027 $840,000 $946,805 $106,805 $367,404 $13,632,596 Dec 31, 2028 $840,000 $954,282 $114,282 $253,123 $13,746,877 Dec 31, 2029 $840,000 $962,281 $122,281 $130,841 $13,869,159 Dec 31, 2030 $840,000 $970,841 $130,841 $0 $14,000,000 What is the bonds' FACE VALUE?
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