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BriggsIndustries,Inc.issued$750,000of7%debenturesonJuly1,2013.Thebondspayinterestsemiannuallyon January1andJuly1.ThematuritydateonthesebondsisJuly1,2021.Thebondsweresoldtoyieldaneffective interestrateof8%.Briggsincurredissuancecostsof$15,000. Requirements : 1)Calculatethesellingpriceofthebonds. 2)Preparethejournalentryfortheissuanceofthebondsandtheissuancecosts. **PLEASE SHOW ALL WORK & CALCULATIONS**

BriggsIndustries,Inc.issued$750,000of7%debenturesonJuly1,2013.Thebondspayinterestsemiannuallyon January1andJuly1.ThematuritydateonthesebondsisJuly1,2021.Thebondsweresoldtoyieldaneffective interestrateof8%.Briggsincurredissuancecostsof$15,000.

Requirements:

1)Calculatethesellingpriceofthebonds.

2)Preparethejournalentryfortheissuanceofthebondsandtheissuancecosts.

**PLEASE SHOW ALL WORK & CALCULATIONS**

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