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Exercise 14-3 Determine the price of bonds; issuance; e ffective interest [L014-2] The Bradford Company issued 12% bonds, dated January 1, with a face amount

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Exercise 14-3 Determine the price of bonds; issuance; e ffective interest [L014-2] The Bradford Company issued 12% bonds, dated January 1, with a face amount of $92 million on January 1, 2018, The bonds mature on December 31, 2027 (10 years). For bonds of similar risk and maturity, the market yield is 14%. Interest is paid semiannually on June 30 and December 31. (FV of $1. PV of $1. FVA of $1. PVA of $1. FVAD of $1 and PVAD of $ provided.) 1) (Use appropriate factorfs) from the tables Required: 1. Determine the price of the bonds at January 1, 2018. 2. to 4. Prepare the journal entry to record their issuance by The Bradford Company on January 1, 2018, interest on June 30, 2018 and interest on December 31, 2018 (at the effective rate). Complete this question by entering your answers in the tabs below. Req 1 Req 2 to 4 Determine the price of the bonds at January 1, 2018. (Enter your answers whole dollars.) on: Req 2 to 4> Next > Prey . .. 1 of 12

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