Question
Crane Company received proceeds of $964500 on 10-year, 8% bonds issued on January 1, 2019. The bonds had a face value of $910000, pay interest
Crane Company received proceeds of $964500 on 10-year, 8% bonds issued on January 1, 2019. The bonds had a face value of $910000, pay interest annually on December 31, and have a call price of 102. Crane uses the straight-line method of amortization. What is the carrying value of the bonds on December 31, 2021?
$910000
$953600
$866400
$959050
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Management Accounting For Business
Authors: Colin Drury, Mike Tayles
8th Edition
1473778808, 978-1473778801
