Homework: Chapter 14 Homework Score: 0 of 1 pt E14-5 (similar to) 2 of 4 (2...
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Homework: Chapter 14 Homework Score: 0 of 1 pt E14-5 (similar to) 2 of 4 (2 complete) On January 1, 2018, the Sanderson Road Corporation issued $900,000 par value, 5%, 5-year bonds. Interest is payable semiannually each January 1 and July 1 with the first interest payment due at the end of the period on July 1, 2018. The market rate of interest on the date of the bond issue was 6%. The company's fiscal year ends on December 31. Read the requirements Requirement a. Determine the issue price of the debt. (Use the present value and future value value tables or the formula method, use factor amounts rounded to five decimal places, XXX00 The issue price of the debt is $ Requirements a. Determine the issue price of the debt. HW Score: 20.37%, 0.8 b. Prepare the amortization table for the bond issue through January 1, 2021. assuming that Sanderson Road uses the effective interest rate method of amortization. c. Prepare the journal entries to record the bond issue, the first interest entry, and payment of the bonds at maturity. Assume the company uses a premium or discount account if needed. Print Done Homework: Chapter 14 Homework Score: 0 of 1 pt E14-5 (similar to) 2 of 4 (2 complete) On January 1, 2018, the Sanderson Road Corporation issued $900,000 par value, 5%, 5-year bonds. Interest is payable semiannually each January 1 and July 1 with the first interest payment due at the end of the period on July 1, 2018. The market rate of interest on the date of the bond issue was 6%. The company's fiscal year ends on December 31. Read the requirements Requirement a. Determine the issue price of the debt. (Use the present value and future value value tables or the formula method, use factor amounts rounded to five decimal places, XXX00 The issue price of the debt is $ Requirements a. Determine the issue price of the debt. HW Score: 20.37%, 0.8 b. Prepare the amortization table for the bond issue through January 1, 2021. assuming that Sanderson Road uses the effective interest rate method of amortization. c. Prepare the journal entries to record the bond issue, the first interest entry, and payment of the bonds at maturity. Assume the company uses a premium or discount account if needed. Print Done
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