Question: INTERMEDIATE ACCOUNTING 2 PLZ SOLVE URGENTLY 0.5 points Save Answer On August 1, 2016. Sony Co. purchased to hold for collection, $1,000,000, 996 bonds for

INTERMEDIATE ACCOUNTING 2 PLZ SOLVE URGENTLY 0.5 points Save Answer On

INTERMEDIATE ACCOUNTING 2 PLZ SOLVE URGENTLY

0.5 points Save Answer On August 1, 2016. Sony Co. purchased to hold for collection, $1,000,000, 996 bonds for $940,000 (a 10% effective interest rate). The bonds, which mature on August 1, 2026, pay interest semiannually on February 1 and August 1. Sony uses the effective interest method of amortization. The bonds should be reported in the December 31, 2016 statement of financial position at a carrying value of A. $943.333. B. $941,667. C. $940.000 D. $942,000

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