Question
On January 1, Elias Corporation issued 9% bonds with a face value of $90,000. The bonds are sold for $87,300. The bonds pay interest semiannually
On January 1, Elias Corporation issued 9% bonds with a face value of $90,000. The bonds are sold for $87,300. The bonds pay interest semiannually on June 30 and December 31 and the maturity date is December 31, 10 years from now. Elias records straight-line amortization of the bond discount. The bond interest expense for the year ended December 31 of the first year is
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Construction Accounting And Financial Management
Authors: Steven J. Peterson
4th Edition
0135232872, 978-0135232873
