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ACC Inter II ch 14 13a) Emma Company purchased a machine from Noah Corporation on October...

ACC Inter II ch 14

13a) Emma Company purchased a machine from Noah Corporation on October 31, 2016. In payment for the $140,300 purchase, Emma issued a one-year installment note to be paid in equal monthly payments of $12,465 at the end of each month. The payments include interest at an annual rate of 12%. When recording the November 30, 2016 payment, the debit to Notes Payable will be $_______

13b) Ava, Inc., issued 10% bonds, dated January 1, with a face amount of $148,700 on January 1, 2016 for an issue price of 106.5. The bonds mature on December 31, 2025 (10 years). For bonds of similar risk and maturity the market yield is 8%. Interest is paid annually on December 31.

What is the carrying value of the bond on December 31,2016

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