On december 31, 2013, a company issues bonds, Accounting Basics

On December 31, 2013, a company issues bonds with a par value of $600,000. The bonds mature in 10 years, and pay 6% annual interest, payable each June 30 and December 31. The bonds sold at $592,000. The company uses the straight-line method of amortizing bond discounts. The company's year-end is December 31. What is the balance in the Discount on Bonds Payable account on 12/31/2014? 

 

Posted Date: 6/29/2014 9:13:28 PM | Location : United States







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