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On January 1, 2015, Fennis Company issued its 10% bonds in the face amount of $3,000,000, which mature on January 1, 2025. The bonds were
On January 1, 2015, Fennis Company issued its 10% bonds in the face amount of $3,000,000, which mature on January 1, 2025. The bonds were issued for $3,402,600 to yield 8%. Fennis uses the effective-interest method of amortizing bond premium. Interest is payable annually on December 31. At December 31, 2016, the adjusted unamortized bond premium should be
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