Business, 20.11.2019 22:31 GILLIG6003

Grocery corporation received $301,233 for 14.00 percent bonds issued on january 1, 2018, at a market interest rate of 11.00 percent. the bonds had a total face value of $256,000, stated that interest would be paid each december 31, and stated that they mature in 10 years. required: prepare the following table for each account by indicating (a) whether it is reported on the balance sheet (b/s) or income statement (i/s); (b) the dollar amount by which the account increases, decreases, or does not change when grocery corporation issues the bonds; and (c) the direction of change in the account [increase, decrease, or no change] when grocery corporation records the interest payment on december 31.

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Grocery corporation received $301,233 for 14.00 percent bonds issued on january 1, 2018, at a market...