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i need help with part C Vaughn Co, is building a new hockey arena at a cost of $2,430,000 it reciewed a downparment of 5490,000
i need help with part C
Vaughn Co, is building a new hockey arena at a cost of $2,430,000 it reciewed a downparment of 5490,000 from local businesses to support the project, and now needs to borrow $1,940,000 to complete the project. It therefore decides to hsue $1,940,000 of 110%,10 yoar bondk. These bonds were issued on January 1.2024 , and pay interest annually on each fanuary 1 . The bonds yeld 10k. Click here to view factor table (a) Your answer is correct. Prepare the journal entry to record the issuance of the bonds on January 1, 2024, (Round preient value foctor calculations fo 5 tities and enter 0 for the amount. Credit account bibis are autamobically indented when the amount is enternd. Do not indent manually. Ust oll debit entriles before coedit entries) Prepare a bond amortization schedule up to and including January 1,2028 , using the effective-interest method. (Round present value foctor to 5 decima) Assume that on July 1, 2027, Vaughn Co. redeems half of the bonds at a cost of $1,049,200 plus accrued interest. Prepare the joumal entry to record this redemption. (Roh places, es. 38,548. If no entry is required, select "No Entry" for the occount titjes and enter O for the amounts. Credit occount titiles are automatically indented when the amount is en Step by Step Solution
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