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Sunland Company received proceeds of $633000 on 10-year, 9% bonds issued on January 1, 2019. The bonds had a face value of $672000, pay interest annually on December 31, and have a call price of 102. Sunland uses the straight-line method of amortization. What is the amount of interest Sunland must pay the bondholders in 2019? O $60480 $56970 O $64380 O $56580

Sunland Company received proceeds of $633000 on 10-year, 9% bonds issued on January 1, 2019. The bonds had a face value of $672000, pay interest annually on December 31, and have a call price of 102. Sunland uses the straight-line method of amortization. What is the amount of interest Sunland must pay the bondholders in 2019? O $60480 $56970 O $64380 O $56580

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Sunland Company received proceeds of $633000 on 10-year, 9% bonds issued on January 1, 2019. The bonds had a face value of $672000, pay interest annually on December 31, and have a call price of 102. Sunland uses the straight-line method of amortization. What is the amount of interest Sunland must pay the bondholders in 2019? O $60480 O $56970 $64380 O $56580
Transcribed Image Text:Sunland Company received proceeds of $633000 on 10-year, 9% bonds issued on January 1, 2019. The bonds had a face value of $672000, pay interest annually on December 31, and have a call price of 102. Sunland uses the straight-line method of amortization. What is the amount of interest Sunland must pay the bondholders in 2019? O $60480 O $56970 $64380 O $56580
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