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Exercise 10-8A Computing bond interest and price; recording bond issuance LO C2, P3 3 points Citywide Company issues bonds with a par value of $76,000

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Exercise 10-8A Computing bond interest and price; recording bond issuance LO C2, P3 3 points Citywide Company issues bonds with a par value of $76,000 on their stated issue date. The bonds mature in ten years and pay 9% annual interest in semiannual payments. On the issue date, the annual market rate for the bonds is 8%. (Table B1, Table B.2. Table B.3, and Table B.4) (Use appropriate factor(s) from the tables provided.) eBook 1. What is the amount of each semiannual interest payment for these bonds? 2. How many semiannual interest payments will be made on these bonds over their life? 3. Use the interest rates given to select whether the bonds are issued at par, at a discount, or at a premium. 4. Compute the price of the bonds as of their issue date. 5. Prepare the journal entry to record the bonds' issuance. Hint Complete this question by entering your answers in the tabs below. Print Req 1 to 3 Req 4 Req 5 References What is the amount of each semiannual interest payment for these bonds? How many semiannual interest payments will be made on these bonds over their life? Use the Interest rates glven to select whether the bonds are issued at par, at a discount, or at a premium. Par (maturity) value Semiannual Rate Semiannual cash interest payment Number of payments yments Whether the bonds are issued at par, at a discount, or at a premium? Exercise 10-8A Computing bond interest and price; recording bond issuance LO C2, P3 points Citywide Company issues bonds with a par value of $76,000 on their stated issue date. The bonds mature in ten years and pay 9% annual interest in semiannual payments. On the issue date, the annual market rate for the bonds is 8%. (Table B.1, Table B.2. Table B.3, and Table B.4) (Use appropriate factor(s) from the tables provided.) eBook 1. What is the amount of each semiannual interest payment for these bonds? 2. How many semiannual interest payments will be made on these bonds over their life? 3. Use the interest rates given to select whether the bonds are issued at par, at a discount, or at a premium. 4. Compute the price of the bonds as of their issue date. 5. Prepare the journal entry to record the bonds' issuance. Hint Complete this question by entering your answers in the tabs below. Print Req 1 to 3 Reg 4 Req 5 References Compute the price of the bonds as of thelr Issue date. (Round Intermediate calculations to the nearest dollar amount.). Table Values are Based on: Cash Flow Table Value Amount Present Value Par (maturity) value Interest (annuity) Price of bonds Lumpiele LINS yuebLiOHDY Lely your Umwel S M L LUUL DEIUV. Req 1 to 3 Req 4 Req 5 points Prepare the journal entry to record the bonds' issuance. (Round intermediate calculations to the nearest dollar amount.) Skipped View transaction list eBook Journal entry worksheet Hint Record the issue of bonds with a par value of $76,000. Print Note: Enter debits before credits. References Transaction General Journal Debit Credit Record entry Clear entry View general journal

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