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Face value of the bond is $50,000,000, market yield is 5%. For question 4, price of 105 TAKE HOME BOND QUESTION On January 1, 2016,

Face value of the bond is $50,000,000, market yield is 5%. For question 4, price of 105 image text in transcribed
TAKE HOME BOND QUESTION On January 1, 2016, House of Cards, Inc. Issued 10% bonds dated January 1, 2016. The face value of the bonds was: The bonds mature in 20 years. For bonds of similar maturity and market rate, the market yield is: Interest is paid semi-annually June 30 & December 31, Company uses the effective interest method Question 1: Determine issue price of the bonds at January 1, 2016. Question 2: Prepare the journal entry to record the bond issuance. Question 3: Prepare the journal entry for the first payment at June 30, 2016. Question 4: Prepare the journal entry if the bonds were sold on December 31, 2016 at a price of

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