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Bond for NEEDS CASH FAST INC PV TABLE IS NOT NEEDED FOR THESE QUESTIONS YOU WILL NEED TO UPLOAD YOUR HANDWRITTEN ANSWERS AND CALCULATIONS ON
Bond for NEEDS CASH FAST INC PV TABLE IS NOT NEEDED FOR THESE QUESTIONS YOU WILL NEED TO UPLOAD YOUR HANDWRITTEN ANSWERS AND CALCULATIONS ON YOUR PDF UPLOAD Needs Cash Fast Inc, issued a bond on 1/1/2021 with a face value of $8,000,000 and received $8,200,000 cash. The stated rate on the bond is 4% and requires semi annual interest payments over the 10 year bond life. each part is 6 points a) Show the partial balance sheet presentation of this bond at issuance on 1/1/21 (include on PDF upload) b) Show the partial balance sheet presentation of this bond half way thru the bond's life or after 5 years. (include on PDF upload) c) What is the journal entry needed to record the semi-annual cash payment related to this bond? (Include the journal in good form on your PDF upload) d) What is the TOTAL INTEREST EXPENSE over the life of the bond?$(totalinterest] Show your calculations on your PDF upload. 3000000
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