Question

On November 1, 2013, Davis Company issued $30,000, eight-year, 6% bonds for $29,152. The bonds were dated November 1, 2013, and interest is payable each November 1 and May 1. How much is the book value of the bonds after the November 1, 2014 interest payment was recorded, assuming the straight-line method of amortization is utilized?

$29,046.

$29,364.

$29,258.

$29,152.

On November 1, 2013, Davis Company issued $30,000, eight-year, 6% bonds for $29,152. The bonds were dated November 1, 2013, and interest is payable each November 1 and May 1. How much is the book value of the bonds after the November 1, 2014 interest payment was recorded, assuming the straight-line method of amortization is utilized?

 



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