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Company: XYZ Company Date of bonds: January 1, 2020 Term: 5 years Face (Par) Value: $100,000 Stated interest rate: 10% Interest payment dates on January

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Company: XYZ Company Date of bonds: January 1, 2020 Term: 5 years Face (Par) Value: $100,000 Stated interest rate: 10% Interest payment dates on January 1 and July 1 The effective interest rate (market yield) is 8%. (Use the present value tables on pages 558-559 exhibits 5&7) 1. Compute the market price of the bonds and make the journal entry to record the issuance of the bonds

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