On january 1 2013 king corporation paid 705186 to acquire, Accounting Basics

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On january 1 2013 king corporation paid 705186 to acquire

On January 1, 2013, King Corporation paid $705,186 to acquire 10% bonds with a face value of $750,000. The discount of $44,814 provides an effective yeld of 11%. King Corporation uses the effective-interest method and plans to hold these bonds to maturity. On July 1, 2013, King Corporation should increase the carrying value of these bonds by (round to the nearest dollar):

$2,241
$3,750
$1,285
$7,052

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Accounting Basics: On january 1 2013 king corporation paid 705186 to acquire

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