Accounting for Bonds Sold at a Discount The Biltmore National Bank raised capital through the sale of $3 million face value of 8 coupon rate, 10 year bonds The bonds paid interest semiannually and were sold at a time when equivalent risk rated bonds carried a yield rate of 10 Calculate the proceeds that The Biltmore National Bank received from the sale of the 8 bonds Round your answer to the nearest dollar $Answer How will the bonds be disclosed on Biltmore's balance sheet immediately following the sale Round your answers to the nearest dollar Balance sheet disclosure (following sale) Bonds payable Answer Less Bonds discount (enter as negative) Answer Bonds payable(net) Answer Calculate the interest expense on the bonds for the first year that the bonds are outstanding Do not round until final answer Round answers to the nearest dollar First six months Answer Second six months Answer Calculate the book value of the bonds at the end of the first year Do not round until the final answer Round answer to the nearest dollar $Answer

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Accounting for Bonds Sold at a Discount The Biltmore National Bank raised capital through the sale of $3 million face value of 8  coupon rate, 10 year bonds  The bonds paid interest semiannually and were sold at a time when equivalent risk rated bonds carried a yield rate of 10   Calculate the proceeds that The Biltmore National Bank received from the sale of the 8  bonds  Round your answer to the nearest dollar  $Answer How will the bonds be disclosed on Biltmore's balance sheet immediately following the sale  Round your answers to the nearest dollar  Balance sheet disclosure (following sale)  Bonds payable Answer Less  Bonds discount (enter as negative) Answer Bonds payable(net) Answer Calculate the interest expense on the bonds for the first year that the bonds are outstanding  Do not round until final answer  Round answers to the nearest dollar  First six months Answer Second six months Answer Calculate the book value of the bonds at the end of the first year  Do not round until the final answer  Round answer to the nearest dollar  $Answer

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Accounting for Bonds Sold at a Discount The Biltmore National Bank raised capital through the sale of $3 million face value of 8% coupon rate,

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Bonds payable	Answer
Less: Bonds discount (enter as negative)	Answer
Bonds payable(net)	Answer