On march 31 2010 willey market issued 150000 worth of, Ask an Expert

Accounting

On March 31, 2010, Willey Market issued $150,000 worth of 10-year, eight percent bonds when the market rate was nine percent. Proceeds were $140,000. The interest is paid annually on March 31.

a) What is the annual interest payment?
b) What is the amount of interest expense on the date of the first interest payment?
c) What is the carrying value at the end of the first year?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9979975

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