Frozen Company issues $33,800 of ten year bonds on January 1, 2020 at 108. It uses the

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Frozen Company issues $33,800 of ten year bonds on January 1, 2020 at 108. It uses the straight line method of amortization and prepares annual financial statements on December 31st.

Required 1: What is the carrying value of the bonds on 2020 Financial Statements? $

Required 2: What is the carrying value of the bonds on 2021 Financial Statements? $

Required 3: What is the carrying value of the bonds on 2024 Financial Statements? $

Related Book For answer-question

Fundamental Accounting Principles

ISBN: 978-0078110870

20th Edition

Authors: John J. Wild, Ken W. Shaw, Barbara Chiappetta

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Posted Date: Apr 08, 2023 02:31 AM

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Frozen Company issues $33,800 of ten year bonds on January 1, 2020 at 108. It uses the

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The face value of the bonds is 33800 and they were issued at 108 so the proceeds from the bond issua... View the full answer

Fundamental Accounting Principles

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