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On April 1, 2021, Cheyenne Corporation issued $328,000, 5-year bonds. On this date. Shoreline Corporation purchased the bonc from Cheyenne to earn interest. Interest is
On April 1, 2021, Cheyenne Corporation issued $328,000, 5-year bonds. On this date. Shoreline Corporation purchased the bonc from Cheyenne to earn interest. Interest is received semi-annually on April 1 and October 1 and Shoreline's year end is March 31. Below is a partial amortization schedule for the first three interest periods of the bond issue, Interest Received Interest Revenue Amortization Bond Amortized Cost Semi-Annual Interest Period April 1, 2021 October 1, 2021 $343,124 $6,560 $5,147 $1,413 341,711 6,560 5,126 1,434 340,277 April 1, 2022 October 1, 2022 6,560 5,104 1,456 338,821 Your answer is incorrect. What will the bonds' amortized cost be at the maturity date? Bonds' amortized cost at the maturity date $ eTextbook and Media Save for Later Attempts: 2 of 5 use
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