The Account Bonds Payable Net Of The Tamar Company Showed Balances Of 751 314 80 (1)

The account “Bonds payable (net)” of the showed balances of $751,314.80 on

December 31, 2017, and $1,035,665.29 on December 31, 2018. A note to the 2018 Financial

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Statements disclosed that the bonds outstanding on December 31, 2017 were zero coupon bonds

that were issued a few years ago when the market effective interest rate was 10% (compounded

annually). These bonds were called and retired on the last day of 2018, resulting in a loss of

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$23,553.72. The bonds outstanding on December 31, 2018 were $1,000,000 of 10% coupon bonds

(interest is paid, in cash, annually, on the last day of the year) that were issued on January 1, 2018

for $1,051,541.94.

Required:

What was the made for the retirement of the zero-coupon bonds?

What was the of the Company for 2018?

What was the of interest for the 10% bonds on January 1, 2018 (issue

date)?

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