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How do you find the value of Bond's Payable? On January...

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Accounting

How do you find the value of Bond's Payable?

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On January 1, 2015, XYZ Corporation issued $200,000 of 8%, 5-year bonds when the market rate of interest was 6%. The bonds were issued for $216,849 and interest will be paid annually on December 31. What is Bonds payable, net of the premium or discount, on the December 31, 2015 balance sheet using the effective-interest method? Click the answer you think is right. $202,989 $203,838 $213,860 $200,000

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