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Temptation Vacations issues $42 million in bonds on January 1, 2021, that pay interest semiannually on June 30 and December 31. Portions of the bond
Temptation Vacations issues $42 million in bonds on January 1, 2021, that pay interest semiannually on June 30 and December 31. Portions of the bond amortization schedule appear below:
| (1) | (2) | (3) | (4) | (5) | ||||||||
| Cash Paid for | Interest | Decrease in | Carrying | |||||||||
| Date | Interest | Expense | Carrying Value | Value | ||||||||
| 1/1/2021 | $ | 46,484,566 | ||||||||||
| 6/30/2021 | $ | 1,680,000 | $ | 1,626,960 | $ | 53,040 | 46,431,526 | |||||
| 12/31/2021 | 1,680,000 | 1,625,103 | 54,897 | 46,376,629 | ||||||||
What is the original issue price?
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