Discount-Mart issues $16 milion in bonds on January 1, 2021 The bonds have a nine-year term and pay interest semiannually on June 30 and December 31 each year Below is a the bonds Interest Dete Expense 01/01/2021 06/30/2021 $940,000 $1,007,338 12/31/2021 960,000 1,010,452 04/30/2022 960,000 1,914,198 12/31/2022 960,000 1,017,991 Cash Paid What is the interest expense on the bonds in 2021? Mugle Choice Increase in Carrying Value $47,338 50,452 34,198 57,991 Carrying Valse 314,390,546 14,437,804 14,488,536 24,542,734 14,400,125 bond amortization schedule for
Discount-Mart issues $16 milion in bonds on January 1, 2021 The bonds have a nine-year term and pay interest semiannually on June 30 and December 31 each year Below is a the bonds Interest Dete Expense 01/01/2021 06/30/2021 $940,000 $1,007,338 12/31/2021 960,000 1,010,452 04/30/2022 960,000 1,914,198 12/31/2022 960,000 1,017,991 Cash Paid What is the interest expense on the bonds in 2021? Mugle Choice Increase in Carrying Value $47,338 50,452 34,198 57,991 Carrying Valse 314,390,546 14,437,804 14,488,536 24,542,734 14,400,125 bond amortization schedule for
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
Problem 71E
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