Assignment Main.dovert i ment Session actor ingressos Actional Scholars AUNG Banner in Malas e portes e MC Mare Al Ri st o- On July 1 Year 1 Dan Industries Inc. issued $2,400,000 of 6 year, 10% bonds at a market (affective interest rate of 111 rcving cash Year of the company is the calendar year Required: rest on the bandes De 1. Journalize the entry to record the amount of the proceeds from the sand Discount on and Payable 2. Doumalize the entries to record the following an amount box does not require an entry leave it blank 3. The first semiannual interest payment on December 31. Year, and the mortation of the bond discount, using the straight line method found your answer to ount on Bonds Payable e terest payment on June 10, Year 2 and the amortization of the bond discount using the str e etho d 3. Determine the total interestepense for Year 1. Round to the nearest dollar 4. Will the band proceeds was be less than the face amount of the bonds when the contract te is less than the market rate of interest to the result your olay var y from the price 5. Compute the price of $2.296.574 received for the bonds by using Exhibit and Exhibit 7. (Pound you PV values to decimal places and the final diferences Present value of the face amount Present value of the semi-annual interest payment Price received for the bonds Assignment Main.dovert i ment Session actor ingressos Actional Scholars AUNG Banner in Malas e portes e MC Mare Al Ri st o- On July 1 Year 1 Dan Industries Inc. issued $2,400,000 of 6 year, 10% bonds at a market (affective interest rate of 111 rcving cash Year of the company is the calendar year Required: rest on the bandes De 1. Journalize the entry to record the amount of the proceeds from the sand Discount on and Payable 2. Doumalize the entries to record the following an amount box does not require an entry leave it blank 3. The first semiannual interest payment on December 31. Year, and the mortation of the bond discount, using the straight line method found your answer to ount on Bonds Payable e terest payment on June 10, Year 2 and the amortization of the bond discount using the str e etho d 3. Determine the total interestepense for Year 1. Round to the nearest dollar 4. Will the band proceeds was be less than the face amount of the bonds when the contract te is less than the market rate of interest to the result your olay var y from the price 5. Compute the price of $2.296.574 received for the bonds by using Exhibit and Exhibit 7. (Pound you PV values to decimal places and the final diferences Present value of the face amount Present value of the semi-annual interest payment Price received for the bonds
