Question
Crane Company received proceeds of $1146000 on 10-year, 9% bonds issued on January 1, 2019. The bonds had a face value of $1216000, pay interest
Crane Company received proceeds of $1146000 on 10-year, 9% bonds issued on January 1, 2019. The bonds had a face value of $1216000, pay interest annually on December 31, and have a call price of 104. Crane uses the straight-line method of amortization. What is the amount of interest Crane must pay the bondholders in 2019?
A.$109440
B.$116440
C.$102440
D.$103140
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Financial Accounting
Authors: Tony Davies, Ian Crawford
1st Edition
0273723073, 9780273723073
