Serotta Corporation is planning to issue bonds with a face value of $440,000 and a...
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Accounting
Serotta Corporation is planning to issue bonds with a face value of $ and a coupon rate of percent. The bonds mature in two years and pay interest quarterly every March June September and December All of the bonds were sold on January of this year. Serotta uses the effectiveinterest amortization method and also uses a premium account. Assume an annual market rate of interest of percent. FV of $ PV of $ FVA of $ and PVA of $
Note: Use appropriate factors from the tables provided.
P Part
What bonds payable amount will Serotta report on this year's December balance sheet?
Note: Round your final answer to nearest whole dollar amount.
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