Solved: On november 1 2006 davis company sold issued 300 1000, Accounting Basics

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On november 1 2006 davis company sold issued 300 1000

Question - On November 1, 2006, Davis Company sold (issued) 300, $1,000, ten-year, 7% bonds at 96. The bonds were dated November 1, 2006, and interest is payable each November 1 and May 1. The amount of discount amortization at each semi-annual interest date would be (assume straight-line amortization):

a. $1,019.

b. $12,000.

c. $1,200.

d. $600.

e. None of the above is correct.

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Accounting Basics: On november 1 2006 davis company sold issued 300 1000

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Accounting Basics: On november 1 2006 davis company sold issued 300 1000

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