Question
Q14: CES ltd. issued $500,000, 8%, 10-year bonds on January 1, 2018, for $467,912. This price resulted in an effective-interest rate of 9% on the
Q14: CES ltd. issued $500,000, 8%, 10-year bonds on January 1, 2018, for $467,912. This price resulted in an effective-interest rate of 9% on the bonds. Interest is payable annually on January 1. CES uses the effective-interest method to amortize bond premium or discount. Record the accrual of interest and the discount amortization on December 31, 2018 and December 31, 2019.
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Accounting And Finance An Introduction
Authors: Eddie McLaney, Peter Atrill
10th Edition
1292312262, 978-1292312262
