Book value of the remaining bonds


On Jan 1, 2008, Air, Inc., sold $200,000 of its 12%, five-year bonds to yield 10%. Interest is paid each Jan 1 and July 1, and effective-interest method of amortization is used. On May 1, 2010, Air Inc., retired $100,000 of the bonds at 104. The book value of the bonds on Dec,31,2009, was $212,926. The book value of the remaining bonds outstanding on May 1, 2010 after the retirement entry has been posted would be??

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Accounting Basics: Book value of the remaining bonds
Reference No:- TGS060945

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