Question
Yanya Company issues $15,900,000, 9.8%, 20-year bonds to yield 10% on January 1, 2020. Interest is paid on June 30 and December 31. The proceeds
Yanya Company issues $15,900,000, 9.8%, 20-year bonds to yield 10% on January 1, 2020. Interest is paid on June 30 and December 31. The proceeds from the bonds are $15,627,170. Using effective-interest amortization, what will the carrying value of the bonds be on the December 31, 2020 balance sheet?
a.$15,900,000
b.$15,641,162
c.$15,629,429
d.$15,631,800
e.None of the above.
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Auditing Text And Cases
Authors: W. Robert Knechel, Knechel
1st Edition
0538819340, 9780538819343
