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harina [27]
2 years ago
12

A company issues $14500000, 5.8%, 20-year bonds to yield 6% on January 1, 2020. Interest is paid on June 30 and December 31. The

proceeds from the bonds are $14164836. Using effective-interest amortization, what will the carrying value of the bonds be on the December 31, 2020 balance sheet?
Business
1 answer:
STatiana [176]2 years ago
4 0

Answer:$14,709,481

Explanation:

$14,709,481

$14,703,108 + [($14,703,108 × .04) - $585,000] + [$14,706,232 × .04) - $585,000] = $14,709,481.

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