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28 Sep 2019
On July 1, 2016, Garden Works, Inc. issued $301,400 of ten-year,7% bonds for $308,800. The bonds were dated July 1, 2016, andsemi-annual interest will be paid each December 31 and June 30.Garden Works Inc. uses the straight-line method of amortization.What is the net amount of the bond liability to be reported on theDecember 31, 2016 balance sheet?
$308,430.
$308,060.
$308,800.
$301,400.
On July 1, 2016, Garden Works, Inc. issued $301,400 of ten-year,7% bonds for $308,800. The bonds were dated July 1, 2016, andsemi-annual interest will be paid each December 31 and June 30.Garden Works Inc. uses the straight-line method of amortization.What is the net amount of the bond liability to be reported on theDecember 31, 2016 balance sheet?
$308,430.
$308,060.
$308,800.
$301,400.
Casey DurganLv2
28 Sep 2019