On January 1, 2009, Clintwood Corporation issued a $1,000, ten-year, 10% bond payable (interest payable each December 31). For the three assumptions below, provide the following information assuming the accounting year ends December 31, and straight-line amortization is used:
Assumption A - Bonds issued at 100
Assumption B - Bonds issued at 96
Assumption C - Bonds issued at 104
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@100
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@96
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@104
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Cash Received at Issuance
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Interest Expense for 2009
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Net bond carrying value on December 31, 2010
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