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PART 2 TYPES OF SECURITIES BONDS PAYABLE CALCULATION

  • 1.  PART 2 TYPES OF SECURITIES BONDS PAYABLE CALCULATION

    Posted 27 days ago
    Dear Friends,

    I need your help to solve and understand below question.
    Thank you in advance.

    On January 1, Year 2, Oak Co. issued 400 of its 8%, $1,000 bonds at 97 plus accrued interest. The bonds are dated October 1, Year 1, and mature on October 1, Year 11. Interest is payable semiannually on April 1 and October 1. Accrued interest for the period October 1, Year 1, to January 1, Year 2, amounted to $8,000. On January 1, Year 2, what amount should Oak report as bonds payable, net of discount?


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    TIMUCIN ONER
    Director/Manager
    ANTALYA
    Turkey
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