BOND PREMIUM AND DISCOUNT Markway, Inc., is contemplating selling bonds. The issue is to be composed of 150 bonds, each with a face amount of $2,000.

Required:
. Calculate how much Markway is able to borrow if each bond is sold at a premium of $20.
. Calculate how much Markway is able to borrow if each bond is sold at a discount of $30.
. Calculate how much Markway is able to borrow if each bond is sold at 96 percent of par.
. Calculate how much Markway is able to borrow if each bond is sold at 105 percent of par.
. Assume that the bonds are sold for $1,975 each. Prepare the entry to recognize the sale of the 150 bonds.
. Assume that the bonds are sold for $2,015 each. Prepare the entry to recognize the sale of the 150 bonds.
Exercise