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Lourdes 87 3 Chplaint fx Merge & Center Conditional Format As Styles Table- A PART A 9 Master Corporation issued $100,000 of 8% bonds
Lourdes 87 3 Chplaint fx Merge & Center Conditional Format As Styles Table- A PART A 9 Master Corporation issued $100,000 of 8% bonds on January 1, 2020 for $92,278, that are due on January 1, 2025, with Interest payable each July 1 and January 1. Assume the company uses the effective Interest rate method to calculate the amortization of any bond discount/premium. On Its Statement of Financial Position for the years ended September 30, 2021 and 2020, Interest payable has been correctly calculated as $2,000 for each year. REQUIRED: Using the blue box provided below, explain in a complete sentence, why the interest payable is the same for Master Corporation in each year presented. B Cover Sheet Q1 Q2 Q3 Q4 Q5 BMoodle Screenshot + on Mode: Automatic Workbook Statistics ASUS
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