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In order to raise cash, ABC issued $1,000,000.00, 10 year, 10% bonds on Jan 1, 2019. The market requires an effective interest rate of 7%.

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In order to raise cash, ABC issued $1,000,000.00, 10 year, 10% bonds on Jan 1, 2019. The market requires an effective interest rate of 7%. Related to this bond what would ABC record on its 2019 income statement? Account? Amount? Related to this bond what would ABC record as a current liability on its 2019 balance sheet? Account? Amount? Related to this bond what would ABC record as a non-current liability on its 2019 balance sheet? Account? Amount

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