On November 1, 2021, Horton Company purchased Lopez, Inc., 10-year, 9%, bonds with a face value of $800,000, for $720,000. An ad

Question

3 years ago

6

On November 1, 2021, Horton Company purchased Lopez, Inc., 10-year, 9%, bonds with a face value of $800,000, for $720,000. An ad

ditional $24,000 was paid for the accrued interest. Interest is payable semiannually on January 1 and July 1. The bonds mature on July 1, 2028. Horton uses the straight-line method of amortization. Ignoring income taxes, the amount reported in Horton's 2021 income statement as a result of Horton's available-for-sale investment in Lopez was

Business

1 answer:

dangina [55] · Answer 1 · 2022-06-13T10:09:56+03:00

dangina [55]3 years ago

7 0

Answer:

$10,500

Explanation: