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Tims Academy had $4,420,000 of bonds payable due in 2017.Prior to 12/31/2016, Tim refinanced $1,088,300 of the bonds to mature in 2027.On January 15, 2017,
Tims Academy had $4,420,000 of bonds payable due in 2017.Prior to 12/31/2016, Tim refinanced $1,088,300 of the bonds to mature in 2027.On January 15, 2017, Tim refinanced another $1,311,100 of the bonds to mature in 2024.Tim issued its financial statements on February 1, 2017.On February 15, 2017, Tim refinanced the remaining amount of the bonds to mature in 2025.In its 2016 financial statements, under U.S. GAAP Tim should show Noncurrent bonds payable of: $____________________
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