Question
On January 1, 2021, $950000, 5-year,3% bonds, were issued for $907317. The interest rate in effect when the bonds were issued was4%. Interest is paid
On January 1, 2021, $950000, 5-year,3% bonds, were issued for $907317. The interest rate in effect when the bonds were issued was4%. Interest is paid semi-annually on January 1 and July 1. What would be the amount of discount amortized on July 1, 2021? (Round intermediate calculations to 5 decimal places.)
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Accounting for Governmental and Nonprofit Entities
Authors: Jacqueline L. Reck, James E. Rooks, Suzanne Lowensohn, Daniel Neely
18th edition
1260190080, 1260190083, 978-1259917059
