In a recent year Chandler Corporation had net income of $150,000, interest expense of $40,000 and expense of $20,000. What was Chandler Corporation's times interest earned for the year? a. 5.25 b. 4.75 c. 3.75 d. 4.25 Bonds that have specific assets of the issue pledged as collateral are a. secured bonds. b. callable bonds. c. convertible bonds. d. debenture bonds. On January 1, 2017, Bruce Company issued bonds with a face value of $1,000,000. The bonds carry a stated interest of 7% payable each January 1. Instructions a. Prepare the journal entry for the issuance assuming the bonds are issued at 95. b. the journal entry for the issuance assuming the bonds are issued at 105. Proxy Inc. issues a $1, 300,000.10%. 10-year mortgage note on December 31, 2017. to obtain financing for a new building. The terms provide for annual installment payments of $200,000 Instructions: Prepare the entry to record the mortgage loan on December 31, 2017, and the first two installment payments on December 31 for each corresponding year