Exhibit 14-8
Piazzi, Inc. sold $400,000 of its 9%, five-year bonds dated January 1, 2013, on May 1, 2013, for $393,000 plus accrued interest. Interest is paid on January 1 and July 1 and straight-line amortization is used.
-Refer to Exhibit 14-8. The net liability for the bonds after recording the sale would be

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The Answer of Exhibit 14-8
Piazzi, Inc. sold $400,000 of its 9%, five-year bonds dated January 1, 2013, on May 1, 2013, for $393,000 plus accrued interest. Interest is paid on January 1 and July 1 and straight-line amortization is used.
-Refer to Exhibit 14-8. The net liability for the bonds after recording the sale would be

Exhibit 14-8 Piazzi, Inc. Sold $400,000 of Its 9%, Five-Year Bonds Dated