Crystal Glassware Company issues $1,042,000 of its 14%,10-year bonds at 97 on February 28,2019.The bonds pay interest on February 28 and August 31.Assume that Crystal uses the straight-line method for amortization.What net amount will be reported for the bonds on the August 31,2019 balance sheet?
A) $1,012,303
B) $1,042,000
C) $1,009,177
D) $1,010,740
Correct Answer:
Verified
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