Question
On January 1, 2021, $930000,5-year,5% bonds, were issued for $890331. The interest rate in effect when the bonds were issued was6%. Interest is paid semi-annually
On January 1, 2021, $930000,5-year,5% bonds, were issued for $890331. The interest rate in effect when the bonds were issued was6%. Interest is paid semi-annually on January 1 and July 1. What would be the amount of discount amortized on January 1, 2022? (Round intermediate calculations to 5 decimal places.)
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Accounting for Governmental and Nonprofit Entities
Authors: Earl R. Wilson, Jacqueline L Reck, Susan C Kattelus
15th Edition
?978-0073379609
