Business, 20.02.2020 22:58 mixcolin0002

On November 1, 20X1, Mason Corp. issued $800,000 of its 10-year, 8% term bonds dated October 1, 20X1. The bonds were sold to yield 10%, with total proceeds of $700,000 plus accrued interest. Interest is paid every April 1 and October 1. What amount should Mason report for interest payable in its December 31, 20X1, balance sheet?
Your

a. $17,500
b. $16,000
c. $11,667
d. $10,667

Answers: 3

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On November 1, 20X1, Mason Corp. issued $800,000 of its 10-year, 8% term bonds dated October 1, 20X1...

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