Question
On January 1, 2020, Sandhill Company issued $2,180,000, 9%, 10-year bonds at $2,326,280. This price resulted in a 8% effective-interest rate on the bonds. Sandhill
On January 1, 2020, Sandhill Company issued $2,180,000, 9%, 10-year bonds at $2,326,280. This price resulted in a 8% effective-interest rate on the bonds. Sandhill uses the effective-interest method to amortize bond premium or discount. The bonds pay annual interest on each January 1.
How do I Show the proper long-term liabilities balance sheet presentation for the liability for bonds payable at December 31, 2021?
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Managerial Accounting For Dummies
Authors: Mark P Holtzman, Karen Schoenebeck
1st Edition
1118116429, 978-1118116425
