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2.1 please help Exercise 14-3 (Static) Determine the price of bonds; issuance; effective interest [LO14-2] The Bradford Company issued 10% bonds, dated January 1, with
2.1 please help
Exercise 14-3 (Static) Determine the price of bonds; issuance; effective interest [LO14-2] The Bradford Company issued 10\% bonds, dated January 1, with a face amount of $80 million on January 1, 2024. - The bonds mature on December 31, 2033 (10 years). - For bonds of similar risk and maturity, the market yield is 12% - Interest is paid semiannually on June 30 and December 31. Required: 1. Determine the price of the bonds at January 1, 2024. 2. to 4. Prepare the journal entries to record their issuance by The Bradford Company on January 1, 2024, interest on June 30, 2024 (at the effective rate) and interest on December 31, 2024 (at the effective rate). Note: Use tables, Excel, or a financial calculator. (FV of \$1, PV of \$1. EVA of \$1, PVA of \$1, EVAD of \$1 and PVAD of \$1) Complete this question by entering your answers in the tabs below. Determine the price of the bonds at January 1, 2024. Note: Enter your answer in whole dollars Step by Step Solution
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