Business
Business, 19.12.2019 06:31, ashlon98

Most solutions, inc., issued 10% bonds, dated january 1, with a face amount of $640 million on january 1, 2018. the bonds mature in 2028 (10 years). for bonds of similar risk and maturity the market yield is 12%. interest expense is recorded at the effective interest rate. interest is paid semiannually on june 30 and december 31. most recorded the sale as follows: january 1, 2018 cash (price) 566,589,440 discount on bonds (difference) 73,410,560 bonds payable (face amount) 640,000,000

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