Question
On July 1 2016, Scheich Company issued 8% bonds in the face amount of $5,000,000 which mature on July 1, 2022. The bonds were issued
On July 1 2016, Scheich Company issued 8% bonds in the face amount of $5,000,000 which mature on July 1, 2022. The bonds were issued for $4,365,416 to yield 11%. Scheich uses the effective-interest method of amortizing bond discount. Interest is payable annually on June 30. At June 30, 2019 the unamortized bond discount should be?
Submit answer in excel.
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Managerial Accounting
Authors: Susan V. Crosson, Belverd E. Needles
11th Edition
0538742801, 978-0538742801
