On january 1 2011 antonio company issued 710000 in bonds, Ask an Expert

Accounting

On January 1, 2011, Antonio Company issued $710,000 in bonds that mature in 7 years. The bonds have a stated interest rate of 6 percent and pay interest on June 30 and December 31 each year. When the bonds were sold, the market rate of interest was 12 percent. The company uses the straight-line amortization method.

What was the issue price on January 1, 2011?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M955170

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