Business, 06.08.2019 22:10 RebelZane18

Glover corporation issued $2,000,000 of 7.5%, 6-year bonds dated march 1, with semiannual interest payments on september 1 and march 1. the bonds were issued on march 1, at 97. glover’s year end is december 31. a. were the bonds issued at a premium, a discount, or at par? b. was the market rate of interest higher, lower, or the same as the contract rate of interest? c. if the company uses the straight-line method of amortization, what is the amount of interest expense glover corporation will show for the year ended december 31? round your answer to the nearest whole dollar. $ d. what is the carrying value of the bonds on december 31? round your answer to the nearest whole dollar. $

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Glover corporation issued $2,000,000 of 7.5%, 6-year bonds dated march 1, with semiannual interest p...

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