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HW question 4 On 5-1-2025, Morris Corporation issued $200,000 (face value) of 4% bonds payable (i.e., the stated rate is 4%) for $170,246. The market
HW question 4 On 5-1-2025, Morris Corporation issued $200,000 (face value) of 4% bonds payable (i.e., the stated rate is 4%) for $170,246. The market rate of interest on similar bonds was 6% at the time of issue (i.e., 5-1-2025). Each bond has a face value of $1,000. The bonds are dated 5-1-2025 and mature 4-30-2035. Interest is paid semiannually on 10-31 and 4-30. You may want to prepare an amortization schedule, as of the time of issue, for the first couple periods. Related to the bonds, what will be the long-term liability reported by Morris Corporation on its 12-31-2025 balance sheet? $0,1... there is no long-term liability O $171.924 $200,000 O $172,114 O $170.246 O $171.353 O $171,543 O $172,304 $172,494 $171.734
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