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On July 1, 2016, Sheffield Corp. issued 9% bonds in the face amount of $11100000, which mature on July 1, 2022, The bonds were issued
On July 1, 2016, Sheffield Corp. issued 9% bonds in the face amount of $11100000, which mature on July 1, 2022, The bonds were issued for $9720000 to yield 10%, resulting in a bond discount of $1380000. Sheffield uses the effective-interest method of amortizing bond discount. Interest is payable annually on June 30. At June 30 2018, Sheffleld's unamortized bond dlscount should be $1436700 $1466300 $1454300 $1424300
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