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allsm [11]
3 years ago
12

Auerbach Inc. issued 4% bonds on October 1, 2021. The bonds have a maturity date of September 30, 2031 and a face value of $300

million. The bonds pay interest each March 31 and September 30, beginning March 31, 2022. The effective interest rate established by the market was 6%.
Assuming that Auerbach issued the bonds for $255,369,000, what would the company report for its net bond liability balance after its first interest payment on March 31, 2022, rounded up to the nearest thousand?
Business
1 answer:
andreev551 [17]3 years ago
6 0

Answer:

below

Explanation:

$385,544,590

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