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Question 4 4 pts On January 1, 2019, Boone Company issued $6 million of 5 year bonds at a 8% stated interest rate to be
Question 4 4 pts On January 1, 2019, Boone Company issued $6 million of 5 year bonds at a 8% stated interest rate to be paid annually. Boone Company issued the bonds for $6,246,000 since the market rate of interest was 7%. What is the carrying value of the bond that Boone Company would report on its December 31, 2019 balance sheet assuming Boone Company uses the effective interest amortization method to amortize bond premiums and discounts. (round to the nearest dollar) $6,221,400 $6,196,800 $6,228,780 $6,203,220 O None of the above
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