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i need help now please. !!! Problem 1 Company: XYZ Company Date of bonds: January 1, 2020 Term: 5 years Face (Par) Value: $100,000 Stated
i need help now please. !!! Problem 1 Company: XYZ Company Date of bonds: January 1, 2020 Term: 5 years Face (Par) Value: $100,000 Stated interest rate: 10% Interest payment dates on January 1 and July 1 The effective interest rate (market yield) is 8%. (Use the present value tables on pages 558-559 exhibits 5&7) 1. Compute the market price of the bonds and make the journal entry to record the issuance of the bonds. 2. The company uses the effective interest method of amortization. Prepare a schedule to amortize the bond premium or discount from January 1, 2020 to January 1, 2021 and make the journal entries for the July 1, 2020 and January 1, 2021. Interest expense for the year ended December 31, 2020 is $
i need help now please. !!!
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