Carr Corporation issued $66,000 of 6 percent, 11-year bonds on January 1, Year 1, for a price that reflected a 7 percent market rate of interest. Interest is payable annually on December 31. To determine the appropriate discount factor(s) using tables, click here to view Tables I, I, II, or in the appendix. Alternatively, if you calculate the discount factor(s) using a formula, round to six (6) decimal places before using the factor in the problem. Required a. What was the selling price of the bonds? b. Prepare the journal entry to record issuing the bonds c. Prepare the journal entry for the first interest payment of December 31, Year 1, using the effective interest rate method. Complete this question by entering your answers in the tabs below. Required A Required B Required What was the selling price of the bonds? (Round your intermediate dollar values and final answer to the nearest dollar amount.) Selling price Required A Required B > Carr Corporation issued $66,000 of 6 percent, 11-year bonds on January 1, Year 1, for a price that reflected a 7 percent market rate of interest. Interest is payable annually on December 31 To determine the appropriate discount factor(s) using tables, click here to view Tables , lIII, or in the appendix. Alternatively, if you calculate the discount factor(s) using a formula, round to six (6) decimal places before using the factor in the problem. Required a. What was the selling price of the bonds? b. Prepare the journal entry to record issuing the bonds. c. Prepare the journal entry for the first interest payment on December 31, Year 1, using the effective interest rate method. Complete this question by entering your answers in the tabs below. Required A Required B Required Prepare the journal entry to record issuing the bonds. (Round your intermediate dollar values and final answers to the nearest dollar amount. If no entry is required for a transaction/event, select "No journal entry required in the first account feld) View transaction fist Journal entry worksheet Cart Corporation issued $66,000 of 6 percent, 11-year bonds on January 1, Year 1, for a price that reflected a 7 percent market rate of Interest Interest is payable annually on December 31 To determine the appropriate discount factor(s) using tables, click here to view Tables Il. ll. or in the appendix Alternatively, if you calculate the discount factor(s) using a formula, round to six (6) decimal places before using the factor in the problem Required a. What was the selling price of the bonds? b. Prepare the journal entry to record issuing the bonds. c. Prepare the journal entry for the first interest payment on December 31, Year 1, using the effective interest rate method. Complete this question by entering your answers in the tabs below. Required A Required Required Prepare the journal entry for the first interest payment on December 31, Year 1, using the effective interest rate method. (Round your Intermediate dollar values and final answers to 2 decimal places. If no entry is required for a transaction/event, select "No journal entry required in the first account field.) View transaction ist Journal entry worksheet Record the interest expense for the first payment. Nintet interdits before credits
