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A n January 1, 2019 Omsk Corporation issued 40,000 of 9 % bonds, due in 5 years. onds pay interest each July 1 and January
A n January 1, 2019 Omsk Corporation issued 40,000 of 9 % bonds, due in 5 years. onds pay interest each July 1 and January 1. Assume 5 % market rate of interest equirements (Round to 0 decimals, Rounding errors do not matter): . Compute market price of bonds. Provide detailed computation What is an amount of discount/premium? Indicate, what it is (discount or premium) Computation. . Prepare amortization schedule. Use formulas in Excel. You can use template provided below. . Prepare journal entry to record bond issue. 5. Prepare journal entry on July 1, 2019. 5. Prepare journal entry on December 31, 2019. 7. Prepare journal entry on January 1, 2020
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