Business, 28.03.2020 01:40 chaseashley24

A corporation issued $600,000, 10%, 5-year bonds on January 1, 2017 for $648,666, which reflects an effective-interest rate of 7%. Interest is paid semiannually on January 1 and July 1. If the corporation uses the effective-interest method of amortization of bond premium, the carrying value of the bonds on January 1, 2019 is

Select one:

a. $617,911

b. $629,198.

c. $626,001.

d. $638,932.

e. $633,817.

Answers: 3

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A corporation issued $600,000, 10%, 5-year bonds on January 1, 2017 for $648,666, which reflects an...

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