Business, 15.04.2021 16:10 claytonp7695

Discount-Mart issues $18 million in bonds on January 1, 2021. The bonds have a seven-year term and pay interest semiannually on June 30 and December 31 each year. Below is a partial bond amortization schedule for the bonds: Date Cash Paid Interest Expense Increase in Carrying Value Carrying Value 01/01/2021 $ 16,218,244 06/30/2021 $ 720,000 $ 810,912 $ 90,912 16,309,156 12/31/2021 720,000 815,458 95,458 16,404,614 06/30/2022 720,000 820,231 100,231 16,504,845 12/31/2022 720,000 825,242 105,242 16,610,087 What is the carrying value of the bonds as of December 31, 2022

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Discount-Mart issues $18 million in bonds on January 1, 2021. The bonds have a seven-year term and p...