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Can you please hell me with part c On July 1, 2020 Cullumber Limited issued bonds with a face value of $980,000 due in 20
Can you please hell me with part c
On July 1, 2020 Cullumber Limited issued bonds with a face value of $980,000 due in 20 years, paying interest at a face rate of 10% on January 1 and July 1 each year. The bonds were issued to yield 11%. The company's year-end was September 30. The company used the effective interest method of amortization. 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) Your answer is correct. Using 1. factor Tables 2. a financial calculator, or 3, Excel function PV, calculate the premium or discount on the bonds. (Round factor values to 5 decimal places, es. 1.25124 and final answer to 0 decimal places, e.g. 5,275.J Discount on bond 78626 $ eTextbook and Media Assistance Used List of Accounts Attempts: 1 of 2 used (b) Prepare a partial Bond Premium/Discount Amortization Schedule for Cullumber Limited. Only prepare the entries in the schedule for July 1, 2020, January 1, 2021, and July 1, 2021. (Round answers to 0 decimal places, eg. 5,275) 404040 Your answer is correct. Prepare a partial Bond Premium/Discount Amortization Schedule for Cullumber Limited. Only prepare the entries in the schedule for July 1, 2020, January 1, 2021, and July 1, 2021. (Round answers to 0 decimal places, eg 5,275) Date Discount Amortized Cash Paid Interest Expense $ 1-Jul-20 $ 1-Jan-21 1-Jul-21 eTextbook and Media List of Accounts (b) 49000 49000 49574 49807 576 107 Attempts 1 of 2 used (c) Your answer is partially correct. Prepare the journal entry to record the issue of the bonds. (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 O for the amounts Rounders to 0 decimal places, eg 5,275) Date Account Titles and Explanation Debit Credit July 1 Cash 180000 Bonds Payable eTextbook and Media List of Accounts Attempts: 1 of 2 used Save for Later (d) The parts of this question must be completed in onder. This part will be available when you complete the part above PR0000 Submit Step by Step Solution
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