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On January 1, 20X6, Brogden Corporation issued at 97 plus accrued interest, two hundred of its ten-year, 8%, $1,000 bonds. The bonds are dated October 1, 20X5. Interest is payable semi-annually on April 1 and October 1.

a. Accrued interest for the period October 1, 20X5 to January 1, 20X6 amounted to $4,000.

b. What amount should Brogden record for bonds payable (net of related discount) on January 1, 20X6?

 

 

Reference no: EM13912868

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