Franklin Corporation issues $83,000, 10%, 5-year bonds on January 1 for $86,700. Interest is paid semiannually on January 1 and July 1. If Franklin uses the straight- line method of amortization of bond premium, the amount of bond interest expense to be recognized on July 1 is $3,740 $6,640 $1,690 4 $3,320
Master Budget
A master budget can be defined as an estimation of the revenue earned or expenses incurred over a specified period of time in the future and it is generally prepared on a periodic basis which can be either monthly, quarterly, half-yearly, or annually. It helps a business, an organization, or even an individual to manage the money effectively. A budget also helps in monitoring the performance of the people in the organization and helps in better decision-making.
Sales Budget and Selling
A budget is a financial plan designed by an undertaking for a definite period in future which acts as a major contributor towards enhancing the financial success of the business undertaking. The budget generally takes into account both current and future income and expenses.
Subject :- Account
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