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What huff should report the bond liability at

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Reference no: EM132817136

Problem 1: On the bond retirement date, the book value of the bond originally sold at a premium or discount:

a. Equals the face value of the bonds.

b. Exceeds the face value of the bonds if the bonds were originally sold at a premium.

c. Is less than the face value of the bonds if the bonds were originally sold at a discount.

d. Is equal to the original selling price of the bonds.

Problem 2: On June 30, 2020, Huff Corporation issued at 99, four thousand of its 8%, P1,000 bonds. The bonds were issued through an underwriter to whom Huff paid bond issue cost of P340,000. On June 30,2020, Huff should report the bond liability at?

Reference no: EM132817136

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