Barnes Corp. issues $800,000 of 9 %, 20-year bonds. The bonds are dated January 1, 2011, and are due in 20 years on January 1, 2031. Interest is paid semi-annually each June 30 and December 31. All the bonds are sold at their par value. Calculate the interest$.

Barnes Corp. issues $800,000 of 9 %, 20-year bonds. The bonds are dated January 1, 2011, and are due in 20 years on January 1, 2031. Interest is paid semi-annually each June 30 and December 31. All the bonds are sold at their par value. Calculate the interest$.

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter13: Long-term Liabilities

Section: Chapter Questions

Problem 2PB: Charleston Inc. issued $200,000 bonds with a stated rate of 10%. The bonds had a 10-year maturity...

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Question

Barnes Corp. issues $800,000 of 9 %, 20-year bonds. The bonds
are dated January 1, 2011, and are due in 20 years on January 1, 2031. Interest is paid
semi-annually each June 30 and December 31. All the bonds are sold at their par value.
Calculate the interest$.

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