The following data relate to a 200000000 5 bond issued for, Ask an Expert

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The following data relate to a $200,000,000, 5% bond issued for a selected semiannual interest period:

Bond carrying amount at beginning of period $216,221,792
Interest paid during period 5,000,000
Interest expense allocable to the period 4,864,990

(a) Were the bonds issued at a discount or at a premium?

(b) What is the unamortized amount of the discount or premium account at the beginning of the period?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9978466

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