The Melon Company issues $519,000 of 8%, 10-year bonds at 103 on March 31, Year 1. The bonds pay interest on March 31 and September 30. Assume that the company uses the straight- line method for amortization. Calculate the net balance that will be reported for the bonds on the September 30, Year 1 balance sheet. (Round your intermediate answers to the nearest dollar.) Group of answer choices $533,791 $535, 349 $519,000 $534, 570

FINANCIAL ACCOUNTING
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Author:Libby
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Chapter1: Financial Statements And Business Decisions
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The Melon Company issues $519,000 of 8%, 10-year bonds at 103 on March 31, Year 1. The
bonds pay interest on March 31 and September 30. Assume that the company uses the straight-
line method for amortization. Calculate the net balance that will be reported for the bonds on the
September 30, Year 1 balance sheet. (Round your intermediate answers to the nearest dollar.)
Group of answer choices $533, 791 $535, 349 $519,000 $534, 570
Transcribed Image Text:The Melon Company issues $519,000 of 8%, 10-year bonds at 103 on March 31, Year 1. The bonds pay interest on March 31 and September 30. Assume that the company uses the straight- line method for amortization. Calculate the net balance that will be reported for the bonds on the September 30, Year 1 balance sheet. (Round your intermediate answers to the nearest dollar.) Group of answer choices $533, 791 $535, 349 $519,000 $534, 570
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