A company issues $25100000, 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 $24519818. Using effective-interest amortization, what will the carrying value of the bonds be on the December 31, 2020 balance sheet? (Round answer to 0 decimal place, e.g. 52.)     $24527511   $24551041   $24535438   $25100000

Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter9: Long-term Liabilities
Section: Chapter Questions
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A company issues $25100000, 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 $24519818. Using effective-interest amortization, what will the carrying value of the bonds be on the December 31, 2020 balance sheet(Round answer to 0 decimal place, e.g. 52.)


 

 

$24527511

 

$24551041

 

$24535438

 

$25100000
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