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On April 1, year 1, greenway issues $20 million of 10%, 20-year bonds payable at par. Interest on the bonds is payable demiannually each April
On April 1, year 1, greenway issues $20 million of 10%, 20-year bonds payable at par. Interest on the bonds is payable demiannually each April 1 and Oct 1. Based on this, Greenways December 31 balance sheet, year 1, will include:
a- bonds payable of 20,500,000
b- bonds payable of 19,500,000
c- bonds payable of $20 milliom as well as interest of 1,500,000
d- bonds payable of 20 million, interest payable 500,000
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