Question
On July 1, 20X5, Yum-Yum bought 20-year, $200,000, 4% bonds for $229,916. Interest onthe bonds is to be paid semi-annually on December 31 and June
On July 1, 20X5, Yum-Yum bought 20-year, $200,000, 4% bonds for $229,916. Interest onthe bonds is to be paid semi-annually on December 31 and June 30 every year. The firstinterest payment was received on December 31, 20X5, and recorded as interest revenue.Yum-Yum intends to hold the bonds until they mature. The market value of the bonds was$232,000 on December 31, 20X5.
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International Accounting
Authors: Timothy Doupnik, Mark Finn, Giorgio Gotti, Hector Perera
5th edition
1259747980, 9781259747984, 1260466531, 978-1260466539
