Essay
On December 31,2019,when the market rate was 12%,Rocku Corp issued $2,000,000,14%,5-year bonds.Interest is payable semiannually on June 30 and December 31.The bonds were issued for $2,147,214,and the corporation uses the effective interest method of amortizing bond premium or discount.Show how the bonds would be reported on the December 31,2019 balance sheet.
Long-Term Liabilities:
Correct Answer:
Verified
Correct Answer:
Verified
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