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On January 1, 2024, the Peace Co. issued a 3-year bond to the Pink Co. The bond pays interest, semiannually, on June 30th and December
On January 1, 2024, the Peace Co. issued a 3-year bond to the Pink Co. The bond pays interest, semiannually, on June 30th and December 31st. Below is a partial amortization table related to the bond. Date Interest Paid Interest Reported Outstanding Balance 1/1/24 $666,633 6/30/24 $42,000 $46,664 12/31/24 $42,000 $46,991 6/30/25 $42,000 $47,340 $5,340 $681,628 12/31/26 $42,000 $700,000 The amortized cost On January 1, 2025 is closest to: Question 3 options: a) $671,297. b) $676,288. c) $666,960. d) $700,000. e) $750,633
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