If the bonds payable account has a balance of 700000 and, Accounting Basics

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If the bonds payable account has a balance of 700000 and

Question: 1.If a 6%, 10-year, $800,000 bond is issued at face value and interest is paid annually, what is the amount of the interest payment at the end of the first period?

2. If the Bonds Payable account has a balance of $700,000 and the Discount on Bonds Payable account has a balance of $36,000, what is the carrying value of the bonds?

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Accounting Basics: If the bonds payable account has a balance of 700000 and

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Accounting Basics: If the bonds payable account has a balance of 700000 and

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