Were the bonds issued at a premium or a discount

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Reference no: EM131259526

On January 1, 2016 Viking Corporation issued $400,000 of 10-year 6% semiannual bonds. The market rate at the time of the issuance was 8%.

Were the bonds issued at a premium or a discount? How do you know?

Suppose Viking received $345,644 for the bonds. How would the bonds payable appear on the balance sheet?

The first interest payment is due July 1st. How much will Viking pay in interest?

How much is interest expense and how much is the amortization of the discount/premium for the period ended June 30, 2016 using the effective interest method?

Reference no: EM131259526

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Were the bonds issued at a premium or a discount : On January 1, 2016 Viking Corporation issued $400,000 of 10-year 6% semiannual bonds. The market rate at the time of the issuance was 8%. Were the bonds issued at a premium or a discount? How do you know? Suppose Viking received $345,644 for the bond..

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