Fir Company issued 9% bonds on January 1, 2020 when the market yield was 10%, as is
Fantastic news! We've Found the answer you've been seeking!
Question:
Fir Company issued 9% bonds on January 1, 2020 when the market yield was 10%, as is shown in the journal entry below. Interest is paid semiannually on June 30 and December 31.
Date | Account | Debit | Credit | ||
Jan. 1, 2020 | Cash | 2,958,800 | |||
Discount on Bonds Payable | 241,200 | ||||
Bonds Payable | 3,200,000 | ||||
What is the carrying amount of the bond on June 30, 2020?
Related Book For
Intermediate Accounting IFRS
ISBN: 978-1119372936
3rd edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
Posted Date: