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Completing a Debt Amortization Table (Straight Line) Chekhov Company sold $200,000 of bonds on December 31, 2018. A portion of the amortization table appears below.
Completing a Debt Amortization Table (Straight Line)
Chekhov Company sold $200,000 of bonds on December 31, 2018. A portion of the amortization table appears below.
Period | Cash Payment (Credit) | Interest Expense (Debit) | Discount on Bonds Payable (Credit) | Discount on Bonds Payable Balance (Debit) | Bond Payable Carrying Value (Credit) |
At issue | $8,000 | $192,000 | |||
6/30/2019 | $12,000 | $12,800 | $800 | 7,200 | $192,800 |
12/31/2019 | 12,000 | 12,800 | 800 | 6,400 | 193,600 |
6/30/2020 | ? | ? | ? | ? | ? |
Q: Calculate the liability balance shown on a statement of financial position after the interest payment is recorded on June 30, 2020.
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