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How do we figure out carrying amount on these bonds? For me, it's a tough study question. Help! McNeil Corporation issued $150,000 of 7.5% 10-year
How do we figure out carrying amount on these bonds? For me, it's a tough study question. Help!
McNeil Corporation issued $150,000 of 7.5% 10-year bonds.
The bonds are dated and sold on January 1, 2015. Interest payment dates are January 1 and July 1.
The bonds are issued for $144,904 to yield the market interest rate of 8%
Using straight-line amortization, the carrying amount of McNeilMcNeil Corporation's bonds at December 31, 2015, is _____________.
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