On July 1, 2023, Crane Inc. issued $530000, 9% bonds, which mature on July 1, 2030....
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On July 1, 2023, Crane Inc. issued $530000, 9% bonds, which mature on July 1, 2030. The bonds were issued for $504197 to yield 10%. Crane uses the effective interest method of amortizing bond discount. Interest is payable annually on June 30. At June 30, 2025, the adjusted balance in the Bonds Payable account should be $530000. O $530717. $506917. $509909. On July 1, 2023, Crane Inc. issued $530000, 9% bonds, which mature on July 1, 2030. The bonds were issued for $504197 to yield 10%. Crane uses the effective interest method of amortizing bond discount. Interest is payable annually on June 30. At June 30, 2025, the adjusted balance in the Bonds Payable account should be $530000. O $530717. $506917. $509909.
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The Bond Amortisation Schedule will be as follows Period Beg Carrying Value ... View the full answer
Related Book For
Intermediate Accounting
ISBN: 978-0132162302
1st edition
Authors: Elizabeth A. Gordon, Jana S. Raedy, Alexander J. Sannella
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