Sunland Company received proceeds of $633000 on 10-year, 9% bonds issued on January 1, 2019. The bonds had a face value of $672000, pay interest annually on December 31, and have a call price of 102. Sunland uses the straight-line method of amortization. What is the amount of interest Sunland must pay the bondholders in 2019? O $60480 $56970 O $64380 O $56580
Sunland Company received proceeds of $633000 on 10-year, 9% bonds issued on January 1, 2019. The bonds had a face value of $672000, pay interest annually on December 31, and have a call price of 102. Sunland uses the straight-line method of amortization. What is the amount of interest Sunland must pay the bondholders in 2019? O $60480 $56970 O $64380 O $56580
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter13: Investments And Long-term Receivables
Section: Chapter Questions
Problem 1MC
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![Sunland Company received proceeds of $633000 on 10-year, 9% bonds issued on January 1, 2019. The bonds had a face value of $672000, pay interest annually on
December 31, and have a call price of 102. Sunland uses the straight-line method of amortization. What is the amount of interest Sunland must pay the bondholders in
2019?
O $60480
O $56970
$64380
O $56580](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fdde7d518-03d8-4613-a8d1-fa4b8e0744de%2F2e7c0a6b-282f-40e6-965d-aa2eb9ce405d%2Fv9t4q4p_processed.png&w=3840&q=75)
Transcribed Image Text:Sunland Company received proceeds of $633000 on 10-year, 9% bonds issued on January 1, 2019. The bonds had a face value of $672000, pay interest annually on
December 31, and have a call price of 102. Sunland uses the straight-line method of amortization. What is the amount of interest Sunland must pay the bondholders in
2019?
O $60480
O $56970
$64380
O $56580
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