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Logan City issues $10 million in bonds on January 1, 2024 that pay interest semiannually on June 30 and December 31. A portion of the

Logan City issues $10 million in bonds on January 1, 2024 that pay interest semiannually on June 30 and December 31. A portion of the bond amortization schedule appears below: Date 01/01/2024 06/30/2024 $400,000 $440,000 12/31/2024 400,000 442,000 Cash Paid Interest Expense What is the face amount of the bonds? $10,000,000 $8,882,000 $8,800,000 $8,840,000 Increase in Carrying Value $40,000 42.000 Carrying Value $8,800,000 8,840,000 8,882,000
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Logan City issues $10 million in bonds on January 1,2024 that pay interest semiannually on June 30 and December 31. A portion of the bond amortization schedule appears below: What is the face amount of the bonds? $10,000,000 $8,882,000 $8,800,000 $8,840,000

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