Determining the amount of bond premiums and discounts
Required
For each of the following situations, calculate the amount of bond discount or premium, if any.
a.Best Co. issued $110,000 of 6 percent bonds at 102.
b. Morris, Inc., issued $60,000 of 10-year, 8 percent bonds at 98.
c. Yang, Inc., issued $100,000 of 15-year, 9 percent bonds at 102 %.
d. Jones Co. issued $500,000 of 20-year, 8 percent bonds at 98 %.
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