Business, 25.11.2021 14:00 razomike88
Trivial Corporation (with a December 31 year-end) issued $406,000, 7% bonds due in 6 years on May 1, 2018. Interest is paid semi-annually on November 1 and May 1 of each year. On the issuance date, the market rate of interest was 8%, resulting in a price of $386,950 for these bonds. Note: The premium/discount is amortized using the straight-line method. Do not enter dollar signs or commas in the input boxes. Round your answers to the nearest whole number. For transactions with more than one debit or credit, enter the accounts in alphabetical order.
Required:
Is this bond issued at a discount or at a premium?
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Trivial Corporation (with a December 31 year-end) issued $406,000, 7% bonds due in 6 years on May 1,...
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