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Argyll, Inc. purchased an 8% 10 year $500,000 bond when the market yield rate was 6% .The bond pays interest on June 30 and December
Argyll, Inc. purchased an 8% 10 year $500,000 bond when the market yield rate was 6% .The bond pays interest on June 30 and December 31 of each year.
In Microsoft Excel
Required:
- Calculate the price of the bond.
- Prepare the journal entry to record the issuance of the bond.
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Managerial Accounting
Authors: John Wild, Ken Shaw
6th Edition
9781259726972
