On july1 year1 cobb company issued 9 bonds in the face, Accounting Basics

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On july1 year1 cobb company issued 9 bonds in the face

Question: On july1 year1 Cobb Company issued 9% bonds in the face amount of 1000000 that mature in 10 years. The bonds were issued for 939000 to yield 10% resulting in a bond discount of 61000. Cobb uses the effective interest method of amortizing bond discount interest is payable annualy on June 30. What is unamortized bond discount on June 30, year 3.

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Accounting Basics: On july1 year1 cobb company issued 9 bonds in the face

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