Question
On January 1, 2019, a company issued $401,500 of 10-year, 12% bonds. The interest is payable semi-annually on June 30 and December 31. The issue
On January 1, 2019, a company issued $401,500 of 10-year, 12% bonds. The interest is payable semi-annually on June 30 and December 31. The issue price was $416,153 based on a 10% market interest rate. The effective-interest method of amortization is used. What is the book value of the bond liability as of June 30, 2019 (to the nearest dollar)?
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Financial Accounting Tools For Business Decision Making
Authors: Paul D. Kimmel
4th Canadian Edition
0470155353, 978-0470155356
