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On January 1, 2019, management issued $ 1,000,000, ten-year bonds at 99. The bonds pay four percent interest on December
Posted: Sun Jul 03, 2022 1:08 pm
by answerhappygod
- On January 1 2019 Management Issued 1 000 000 Ten Year Bonds At 99 The Bonds Pay Four Percent Interest On December 1 (61.67 KiB) Viewed 12 times
On January 1, 2019, management issued $ 1,000,000, ten-year bonds at 99. The bonds pay four percent interest on December 31. On January 1, 2021, management pays $ 987,000 to retire the bonds. Required: 1. Calculate the balance in the discount account on December 31, 2020. 2. Calculate the gain/loss on early retirement.