A company issues $16700000, 5.8%, 20-year bonds to yield 6% on January 1, 2020. Interest is paid on June 30 and December 31. The proceeds from the bonds are $16313983. Using effective-interest amortization, what will the carrying value of the bonds be on the December 31, 2020 balance sheet?     $16333738   $16319102   $16324376   $16700000

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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A company issues $16700000, 5.8%, 20-year bonds to yield 6% on January 1, 2020. Interest is paid on June 30 and December 31. The proceeds from the bonds are $16313983. Using effective-interest amortization, what will the carrying value of the bonds be on the December 31, 2020 balance sheet?


 

 

$16333738

 

$16319102

 

$16324376

 

$16700000
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