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  1. business
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  3. on october 1, 2017, barrick corp. purchased 800, $

On October 1, 2017, Barrick Corp. purchased 800, $1,000, 9% bonds for $792,000, which included...

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Accounting

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On October 1, 2017, Barrick Corp. purchased 800, $1,000, 9% bonds for $792,000, which included $12,000 accrued interest. The bonds, which mature on February 1, 2023, pay interest semi-annually on February 1 and August 1. The bonds will be held to maturity. Barrick uses the straight-line method of amortization. The bonds, which are accounted for under the amortized cost model, should be reported in the December 31, 2017 balance sheet at a carrying value of $792,000 $780,000 $780,600 $792,240

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