Question
Temptation Vacations issues $49 million in bonds on January 1, 2024, that pay interest semiannually on June 30 and December 31. Portions of the
Temptation Vacations issues $49 million in bonds on January 1, 2024, that pay interest semiannually on June 30 and December 31. Portions of the bond amortization schedule appear below. (2) (4) Decrease in (1) Date Cash Paid for (3) Interest Interest Expense Carrying Value (5) Carrying Value 1/1/2024 $55,150,180 6/30/2024 12/31/2024 $1,470,000 1,470,000 $1,378,755 1,376,473 $91,245 93,527 55,058,935 54,965,408 2. What is the original issue price of the bonds? (Enter your answer in whole dollars, not millions (i.e., $5.5 million should be entered as 5,500,000).) Issue price
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Financial Accounting
Authors: David Spiceland
6th Edition
1260786528, 9781260786521
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