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1. Downing Company issues $2,000,000, 8%, 10-year bonds on January 1, 2020. The bonds pay interest annually on December 31. The bonds are issued
1. Downing Company issues $2,000,000, 8%, 10-year bonds on January 1, 2020. The bonds pay interest annually on December 31. The bonds are issued to yield 12%. (9 pts) a) Calculate the issue price of the bonds in dollars b) Calculate the issue price of the bonds as a percent c) Make the journal entry to record the sale of the bond
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Forensic Accounting and Fraud Examination
Authors: William Hopwood, george young, Jay Leiner
2nd edition
978-007813666, 78136660, 978-0078136665
