Question
On March 1, 2022, a firm issued $200,000 of 9% bonds. The bonds were dated January 1, 2022. Maturity date is 1/1/27. Interest is paid
On March 1, 2022, a firm issued $200,000 of 9% bonds. The bonds were dated January 1, 2022. Maturity date is 1/1/27. Interest is paid annually on January 1. Straight-line amortization is used. A total of $210,500 in cash was received, which included accrued interest. What appears as Interest Payable on the 12/31/22 balance sheet?
Select one:
a.$15,828
b.$13,448
c.$18,000
d.$19,552
e.$15,000
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Intermediate Accounting
Authors: Donald E. Kieso, Jerry J. Weygandt, And Terry D. Warfield
13th Edition
9780470374948, 470423684, 470374942, 978-0470423684
