Mall Inc. issued a bond for $1,852,480 on October 1, Year 1. The face value of the bond is $2,000,000 and pays annual interest of 4.5%. The bond matures in six years. Mall reports under ASPE and has a December 31 year end. What is the amortization on the bond discount recorded for Mall's December 31, Year 1, year end, using the straight-line method?

Answer rating: 100% (QA)

To calculate the amortization on the bond discount using the straightline method we need t... View the full answer