Question
Consider the 9.5% senior secured notes due February 2011. c. 1. What is the face value (i.e. the principal) of these notes? How do you
Consider the 9.5% senior secured notes due February 2011. c. 1. What is the face value (i.e. the principal) of these notes? How do you know? d. Prepare the journal entry that Rite Aid must have made when these notes were issued. 111. Prepare the annual interest expense joumal entry. Note that the interest paid on a note during the year equals the face value of the note times the stated rate (i.e., coupon rate) of the note. iv. Prepare the joumal entry that Rite Aid will make when these notes mature in 2011.
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