. What bond payable amount will Denzel report on its June 30 balance sheet? ale d int ulations ore
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Hi. Please help me with this balance sheet. and Please explain the teps
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Required information
[The following information applies to the questions displayed below.]
Denzel Corporation is planning to issue bonds with a face value of $610,000 and a coupon rate of 7.5 percent. The bonds
mature in 6 years and pay interest semiannually every June 30 and December 31. All of the bonds were sold on January 1
of this year. Denzel uses the effective-interest amortization method and does not use a discount account. Assume an
annual market rate of interest of 8.5 percent. (FV of $1, PV of $1, FVA of $1, and PVA of $1)
Note: Use appropriate factor(s) from the tables provided.
3. What bond payable amount will Denzel report on its June 30 balance sheet?
Note: Round your intermediate calculations and final answers to whole dollars.
X Answer is complete but not entirely correct.
DENZEL CORPORATION
Balance Sheet (Partial)
At June 30
Long-term liabilities
Bonds payable
Bond discount
$
$
610,000 X
(28,212) X
$
581,788
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