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Blossom Corp. issued $395,000 of 10 year, 5% bonds with interest payable semi-annually. How much did Blossom receive from the sale of these bonds if
Blossom Corp. issued $395,000 of 10 year, 5% bonds with interest payable semi-annually. How much did Blossom receive from the sale of these bonds if the market interest rate was (a) 4%, (b) 5%, and (c) 6%? (Forc purposes, use 5 decimal places as displayed in the factor table provided. Round final answer to decimal places, eg. 5,275.) Click here to view the factor table. Present Value of 1 Click here to view the factor table. Present Value of an Annuity of 1 (a) 4% $ (b) 5% $ (c) 6% $ Crane Inc issues $366,000 of 10 year, 4% bonds at 99. Prepare the journal entry to record the sale of these bonds on March 1, 2021. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts.) Debit Credit Date Account Titles and Explanation Mar. 1 (To record issuance of bonds.) The balance sheet for Sunland Consulting reports the following information on July 1, 2021. Non-current liabilities Bonds payable, 4%, due 2024 $827.200 The face value of these bonds is $880,000. Sunland decides to redeem these bonds at 101 after paying annual interest. Prepare the journal entry to record the redemption on July 1, 2021. (Credit account tities are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Date Account Titles and Explanation Debit Credit July 1 (To record redemption of bonds)
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