Solved: The bonds were retired on january 1 2013 for 102 percent, Accounting Basics

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The bonds were retired on january 1 2013 for 102 percent

Question - A 10 year, 5%, $1,000,000 bond was issued on January 1, 2005. The bond pays interest yearly. At the time of issuance, the market rate was 6%. The bonds were retired on January 1, 2013 for 102 percent par. What would be the amount of discount that would have to be credited upon the retirement?

$18,330

$45,962

$73,595

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Accounting Basics: The bonds were retired on january 1 2013 for 102 percent

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Accounting Basics: The bonds were retired on january 1 2013 for 102 percent

Reference No:- TGS02854348

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