On december 31 2006 roberts company sold 100000 ten-year 8, Ask an Expert

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On December 31, 2006, Roberts Company sold $100,000, ten-year, 8% bonds at 104.5. The bonds were dated January 1, 2006, and interest is payable each December 31. The company uses the straight-line amortization method. The company should report the long-term liability (carrying value) for the bonds on the December 31, 2006, balance sheet as:

A) $100,000.

B) $103,400.

C) $104,000.

D) $104,500.

E) None of the above is correct.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M996897

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