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QUESTION
On January, 1, 2010, Treason Construction Inc. issued 1,000,000, 10-year bonds for $1,150,000. The bonds pay interest on June 30 and December 31.
On January, 1, 2010, Treason Construction Inc. issued 1,000,000, 10-year bonds for $1,150,000. The bonds pay interest on June 30 and December 31. The stated rate is 10% and the marked value rate is 8%. If Discount/Premium is amortized using the Straight-line method each interest period, determine the carrying value of the bonds on July 1, 2011
$11,27,500
