Solved

Use the Following Information to Answer the Question(s)below

Question 15

Multiple Choice

Use the following information to answer the question(s) below.
Pfadt Inc.had $600,000 par of 8% bonds payable outstanding on January 1,2011 due January 1,2015 with an unamortized discount of $12,000.Senat is a 90%-owned subsidiary of Pfadt.On January 2,2011,Senat Corporation purchased $150,000 par value of Pfadt's outstanding bonds for $152,000.The bonds have interest payment dates of January 1 and July 1.Straight-line amortization is used.
-Bond Interest Receivable for 2011 of Pfadt's bonds on Senat's books was


A) $5,400.
B) $6,000.
C) $10,800.
D) $12,000.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents