Business, 28.11.2019 01:31, emmmssss21

On january 1, 2019, stronger industries issued $480,000 of 9%, five-year bonds that pay interest semiannually on june 30 and december 31. they are issued at $499,483 and their market rate is 8% at the issue date. after recording the entry for the issuance of the bonds, bonds payable had a balance of $480,000 and premium on bonds payable had a balance of $19,483. stroger uses the effective interest bond amortization method. the first semiannual interest payment was made on june 30, 2019.

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On january 1, 2019, stronger industries issued $480,000 of 9%, five-year bonds that pay interest sem...