On October 1, 2020 Sunland Company issued 4%, 10-year bonds with a face value of $6110000 at 104. Interest is paid on October 1 and April 1, with any premiums or discounts amortized on a straight-line basis. Bond interest expense reported on the December 31, 2020 income statement
On October 1, 2020 Sunland Company issued 4%, 10-year bonds with a face value of $6110000 at 104. Interest is paid on October 1 and April 1, with any premiums or discounts amortized on a straight-line basis. Bond interest expense reported on the December 31, 2020 income statement
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter14: Financing Liabilities: Bonds And Long-term Notes Payable
Section: Chapter Questions
Problem 8RE
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On October 1, 2020 Sunland Company issued 4%, 10-year bonds with a face value of $6110000 at 104. Interest is paid on October 1 and April 1, with any premiums or discounts amortized on a straight-line basis.
Bond interest expense reported on the December 31, 2020 income statement of Sunland Company would be
$54990
$67210
$61100
$109980
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