C14

Namc PROBLEM 1 Mardi Gras, Inc. sells masks. On January 1,2013 the first da $45,000 of eight-year, 3% bonds when the market 30 and December 31. The company uses the effective interest rate premiums y of its fiscal year, Mardi Gras, Inc. issued rate was 296, with interest payable semiannually, on June e company uses the effective interest rate method to amortize bond discounts and Calculate the proceeds from the sale of the bonds (selling price) and write your answer on the line provided. Use the present value tables posted in our course D2L shell with the CH14 materials to make the calculation. (Use the numbers exactly as they appear in the table.) Round to the nearest whole dollar when necessary You must show your work for any credit to be awarded. Prepare all required journal entries for 2013