ezto.mneocation.com Homework Chapter 10 - Principles of Financial Acct. 5048 SU20 LEC Connect ork Chapter 10 Saved Help Exercise 10-16A Computing bond interest and price; recording bond issuance LO C2 Bringham Company issues bonds with a par value of $590,000. The bonds mature in 5 years and pay 9% annual interest in semiannual payments. The annual market rate for the bonds is 12%. (Table B.1. Table B.2. Table B.3 and Table 8.4) (Use appropriate factor(s) from the tables provided.) 1. Compute the price of the bonds as of their issue date. 2. Prepare the journal entry to record the bonds' issuance. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the price of the bonds as of their issue date. (Round all table values to 4 decimal places, and us the rounded table values in calculations. Round intermediate calculations to the nearest dollar amount.) inces Table Values are Based on: n 10 0.1% Cash Flow Table Value Amount Present Value Par (maturity) value Interest (annuity) Price of bonds $ 590,000 2,650 X $ $ Required 2 > Prov 1 of 5 !! Next > Exercise 10-16A Computing bond interest and price; recording bond issuance LO C2 Bringham Company issues bonds with a par value of $590,000. The bonds mature in 5 years and pay 9% annual interest in semiannual payments. The annual market rate for the bonds is 12%. (Table B.1. Table B.2. Table 8.3, and Table B. 4) (Use appropriat factor(s) from the tables provided.) 1. Compute the price of the bonds as of their issue date. 2. Prepare the journal entry to record the bonds' issuance. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the journal entry to record the bonds issuance. (Round intermediate calculations to the nearest dollar amount.) View transaction list View journal entry worksheet No Transaction Debit Credit 1 1 General Journal Cash Discount on bonds payable Bonds payable 524,863 65,137 59000