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What is the balance of the bonds payable account

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On January 1, 2016, a €2,000,000 bond was issued by Harper Corp. with total proceeds of €1,880,000, maturing in 10 years.

Problem a. If the coupon rate is 6%, and the carrying value of the bond on December 31, 2016 is €1,890,000, how much is the interest expense for 2016?

Problem b. As of December 31, 2018, what is the balance of the Bonds Payable account considering that the discount amortization for 2017 and 2018 is €12,000 and €15,000, respectively?

Reference no: EM132919636

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