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On January 1, 2023, Bramble Corporation purchased 560 of $1000 face value, 9% bonds of Crane Company, for $525000, to yield 10%. The bonds,
On January 1, 2023, Bramble Corporation purchased 560 of $1000 face value, 9% bonds of Crane Company, for $525000, to yield 10%. The bonds, which mature on January 1, 2028, pay interest semi-annually on January 1 and July 1. Assuming that Bramble uses the straight-line method of amortization and that the bonds are accounted for under the amortized cost method, the net carrying value of the bonds should be shown on Bramble's December 31, 2023, statement of financial position at O $560000. O $536667. O $532000. O $532778.
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