Question
Question Content Area Exhibit 14-8 Piazzi, Inc. sold $400,000 of its 9%, five-year bonds dated January 1, 2013, on May 1, 2013, for $393,000 plus
Question Content Area
Exhibit 14-8 Piazzi, Inc. sold $400,000 of its 9%, five-year bonds dated January 1, 2013, on May 1, 2013, for $393,000 plus accrued interest. Interest is paid on January 1 and July 1 and straight-line amortization is used. Refer to Exhibit 14-8. The balance of Discount on Bonds Payable after the December 31, 2013, adjusting entry has been posted would be?
ANSWER IS $6,000. Please help me figure out how to solve for this answer.
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Accounting concepts and applications
Authors: Albrecht Stice, Stice Swain
11th Edition
978-0538750196, 538745487, 538750197, 978-0538745482
