On January 1, 2018, Masterwear Industries issued $700,000 of 12% bonds, dated January 1. Interest of $42,000
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On January 1, 2018, Masterwear Industries issued $700,000 of 12% bonds, dated January 1. Interest of $42,000 is payable semiannually on June 30 and December 31. The bonds mature in three years. The market yield for bonds of similar risk and maturity is 10%. The entire bond issue was purchased by United Intergroup, Inc. The company incurred the issue cost of $14,000.
Related Book For
Intermediate Accounting
ISBN: 978-0078025839
9th edition
Authors: J. David Spiceland, James Sepe , Mark Nelson , Wayne Thomas
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