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On Jan 1 Year 1, when the annual market interest rate was 4%, 5-year 5% bonds with a face value of $50,000 were issued for
On Jan 1 Year 1, when the annual market interest rate was 4%, 5-year 5% bonds with a face value of $50,000 were issued for proceeds of $52,246. Interest is payable on June 30 and Dec 31 each year. On Dec 31 Year 2, the amortized cost was $51,400. On June 30 Year 3 the discount amortized was
$1,285.
$1,045.
$1,028.
$1,306.
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