The Melon Company issues $500,000 of 8%, 10-year bonds at 104 on March 31, Year 1. The bonds pay interest on March 31 and September 30. Assume that the company uses the straight-line method for amortization. Calculate the net balance that will be reported for the bonds on the September 30, Year 1 balance sheet. (Round your intermediate answers to the nearest dollar.) O $500,000 O $519,000 O $520,000 O $521,000

The Melon Company issues $500,000 of 8%, 10-year bonds at 104 on March 31, Year 1. The bonds pay interest on March 31 and September 30. Assume that the company uses the straight-line method for amortization. Calculate the net balance that will be reported for the bonds on the September 30, Year 1 balance sheet. (Round your intermediate answers to the nearest dollar.) O $500,000 O $519,000 O $520,000 O $521,000

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter13: Long-term Liabilities

Section: Chapter Questions

Problem 6PB: Edward Inc. issued bonds with a $500,000 face value, 10% interest rate, and a 4-year term on July 1,...

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