How to figure gain on retirement of bond. Parent issues bond for 10M at 1.06. Sub buys 40% at 96.6. after 3 yr step 3 - determine interest revenue
belongs to book: ADVANCED ACCOUNTING|Debra C.jeter, Paul K.Chaney|7th edition| Chapter number:6| Question number:7
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Accounting
Interest revenue = 4,000,000 x 0.09 = 360,000
need an explanation for this answer? contact us directly to get an explanation for this answer360,000 + 8,000 (S's discount amort) = 368,000